Joseph Meli, the man accused of executing a multimillion-dollar Ponzi scheme that lured investors in with promises of substantial profits from the resale of tickets to the Broadway hit “Hamilton” and other big shows pleaded guilty Tuesday to security fraud, the U.S. attorney for the Southern District of New York announced.
“As he admitted in court today, Joseph Meli created his own theatrical production—a fictitious business that purported to have access to blocks of tickets to Broadway shows and other events,” Acting U.S. Attorney Joon Kim said in a statement. “In fact, Meli was deceiving investors into giving him money that he pocketed to fund his own extravagant lifestyle. Now he awaits sentencing for running a Ponzi scheme.”
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