Law Offices of Samuel Gregory
Español | русский
Schedule a Free Initial Consultation:
Contact Menu

Ponzi scheme allegedly drew in $97 million

Two New York City businessmen were indicted on March 7 for allegedly running a Ponzi scheme that involved purported investments in Broadway show and concert tickets. The Securities and Exchange Commission alleged that the two men took in $97 million through the scheme from 138 investors from 17 states.

The SEC alleges that the men lured investors by promising that their money would be pooled to purchase bulk tickets to various popular shows, including "Hamilton," "Harry Potter and the Cursed Child," Adele concerts and others. Some of the events had been sold out for months in advance, and the ticket purchases were reportedly never made.

The men were charged with fraud in the scheme. The SEC alleges that they diverted $74 million of the investors' funds to pay for their own personal and luxury items and to keep the Ponzi scheme running. The SEC has also named a number of relief defendants who allegedly received money from the scheme in the complaint, including the wife and mother of one of the men. That same man is facing a separate criminal case in which his investment company is alleged to have committed fraud.

White collar charges may be highly complex, involving thousands of pages of detailed financial and other documents. People who learn that they are the subject of investigations may want to obtain legal assistance before they are charged or indicted. Attorneys may organize documents and search for problems evidence. Depending on the specifics of the case, they may also work to negotiate agreements not to prosecute in exchange for the payment of restitution.

No Comments

Leave a comment
Comment Information

"Legendary Trial Lawyer Who Puts Passion For His Work In Every Case"

"Highest Possible Rating For A Lawyer From Martindale-Hubbell"

Contact for a FREE Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Office Locations

Brooklyn Office
16 Court St.
Suite 2008
Brooklyn, NY 11241

Phone: 718-804-5208
Fax: 718-222-2889
Brooklyn Law Office Map

New York Office
225 Broadway
Suite 1203
New York, NY 10007

Phone: 718-804-5208
Fax: 718-222-2889
Map & Directions

Connect :
  • Facebook
  • Twitter
  • linkedin