Ticket re-seller faces fraud allegations
Fraud , Live Events / November 2016
USA

FRAUD Live events sector   42 year old Traci Monti, who allegedly raised more than US$5 million from investors to buy and sell tickets on the secondary ticketing market, has been charged with seven counts of wire fraud – each of which is punishable by up to 20 years in prison – and two counts of money laundering, each of which carries a maximum sentence of ten years. It is alleged Monti ispent the money on a house and car, and had been arrested by Chicago police. According to the indictment by the US attorney for the northern district of Illinois and the Chicago offices of the FBI and Internal Revenue Service (IRS), Monti, who was once Joan Jett’s publicist,  told investors she had “business relationships with multiple primary market sources, such as event promoters and venues, through which she purportedly purchased tickets at face value”. The indictment alleges these relationships didn’t exist, and that in reality Monti used the victims’ funds to fund her lifestyle and to make “ponzi-type payments to other investors”.   Monti pleaded not guilty in the arraignment. A pre-trial status hearing is set for the 9th of November.   In 2012, Monti faced a legal action…

Music sales put the FBI in a spin
Fraud , Internet / July 2009
UK
USA

FRAUD Internet A gang of chart savvy popsters who made allegedly made hundreds of thousands of pounds laundering money taken from stolen credit card by buying their own sound recordings from iTunes and Amazon have been arrested in a joint operation between Britain and the USA .  The gang are alleged to have made several songs which they gave to an online US company which  uploaded them to be sold online – and over five months they bought their own songs thousands of times, spending around $750,000 (£468,750) on 1,500 stolen US and UK credit cards. According to the Metropolitan Police and the FBI, the criminal network then allegedly reaped the royalties from the tracks, pulling in an estimated $300,000, paid over by the two sites. Both sites were unaware of the fraud being committed against them. A chart topping sixty officers from the Met’s central e-crime unit and West Midlands Police arrested seven men and three women in London, Birmingham, Kent and Wolverhampton who are being held on suspicion of conspiracy to commit fraud and money laundering. The Guardian report that Detective Chief Inspector Terry Wilson, of the e-crime unit, had this to say: “This has been a complex…