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New York man charged in $70 mln Ponzi scheme over ticket resales
May 31, 2017 / 5:34 PM / 6 months ago

New York man charged in $70 mln Ponzi scheme over ticket resales

NEW YORK, May 31 (Reuters) - A New York man has been criminally charged with running a $70 million Ponzi scheme centered on the purported sale of tickets to events including the NFL Super Bowl, soccer’s World Cup, the U.S. Open tennis tournament and the Broadway blockbuster “Hamilton.”

Jason Nissen, 44, of Roslyn, New York, was arrested on Wednesday and charged with one count of wire fraud, according to Acting U.S. Attorney Joon Kim in Manhattan.

It was not immediately clear whether Nissen has hired a lawyer.

Nissen was accused of having since 2015 lured investors by promising to use their money to buy tickets to popular events and resell them at a profit.

Instead, Nissen diverted much of the money to enrich himself and repay earlier investors, using falsified financial documents to deceive investors into how their money was being used.

The case was announced four months after federal authorities brought civil charges accusing Joseph Meli and Matthew Harriton of running a similar scheme involving ticket resales, including to “Hamilton,” in which they raised more than $97 million.

Meli and another defendant were separately charged in a related criminal case. (Reporting by Jonathan Stempel in New York)

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