Jason Nissen pleaded guilty to federal wire fraud charges Wednesday for duping investors out of more than $60 million in a sporting and entertainment events ticket Ponzi scheme, U.S. Attorney Geoffrey Berman’s office announced.

“As he admitted in court today, Jason Nissen’s pitch to investors about access to premium sports and entertainment tickets was a sham,” Berman said in a statement. “His investment scheme was really a Ponzi scheme. Now he awaits sentencing for his admitted swindle.”