collected by :John Locas
× 2 New York Men Charged in Alleged Ponzi Scheme for ‘Hamilton’ Tickets Two New York men have been accused by the Securities and Exchange Commission of defrauding investors out of millions of dollars in what the agency described as a “Hamilton” ticket-resale Ponzi scheme.
A funding agreement with an investor described in the complaint refers to a deal supposedly made between one of the ticket-reselling enterprises and a “Hamilton” producer to purchase 35,000 tickets.
The SEC said Friday that Joseph Meli, 42, and Matthew Harriton, 52, convinced at least 125 investors in 13 states to contribute a total of $81 million toward their four ticket-reselling businesses.
Click here to read the full story on LATimes.com.
Since at least 2015, the men told investors that they would pool the investment to purchase tickets to popular shows, such as an Adele concert and the smash hit Broadway musical “Hamilton,” and resell them at a profit to generate high returns, according to the SEC complaint.
as informed in
Two Charged in ‘Hamilton’ Ticket Ponzi Scheme
Two New York City men have been charged for allegedly running a Ponzi scheme involving the resale of tickets to the Broadway smash hit musical “Hamilton.”The Securities and Exchange Commission alleges in a civil complaint Joseph Meli and Matthew Harriton…
as informed in
Two Men Allegedly Ran $81 Million ‘Hamilton’ Ticket Ponzi Scheme
The two men are accused of running a Ponzi scheme that was centered around buying up blocks of tickets to Hamilton and other popular events and re-selling them for profit.
However, the Securities Exchange Commission says only a tiny portion of the $81 million raised went toward tickets.
Getty ImageThe level of demand for tickets to Lin-Manuel Miranda’s massive musical Hamilton is insane.
Like, Miranda teaming up with senators just to stop the insane amount of scalping insane.
So, it was only a matter of time before someone decided to take that hustle and make it a little bit bigger.