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Man sentenced for concert investment scheme

A Florida guy has been sentenced to 4 years and 9 months in federal jail for his phase in a multimillion-dollar live performance funding scheme

ORLANDO, Fla. — A Florida guy used to be sentenced Monday to 4 years and 9 months in federal jail for his phase in a multimillion-dollar live performance funding scheme.

Edison Denizard, 41, of Orlando, used to be sentenced in Orlando federal courtroom, in step with courtroom data. He pleaded in charge in October to conspiracy to devote twine fraud. along with serving jail time, Denizard should forfeit his lakefront house and pay again just about $1.7 million.

In step with courtroom paperwork, Denizard and co-conspirator Andres Fernandez raised hundreds of thousands of bucks from dozens of sufferers between March 2016 and June 2017. The sufferers believed that they have been making an investment in occasions through most sensible artists, together with Drake, Garth Brooks, Pitbull, The Weeknd and Maná. However Denizard and Fernandez weren’t in fact keen on lots of the occasions, officers stated.

Denizard used lots of the budget that he had gained from buyers to pay fraudulent funding returns to previous buyers and for his personal non-public use, investigators stated. Sufferers’ losses have been a minimum of $7.four million, prosecutor stated.

Fernandez used to be sentenced to 10 years in jail remaining yr after pleading in charge to 12 counts of twine fraud.

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