Was anything more inevitable than a Hamilton Ponzi scheme993 Archives
The Securities and Exchange Commission charged two men in New York with fraud on Friday for running an $81 million Ponzi scheme that promised to make money reselling tickets to the sold-out Broadway musical.
The Ponzi masterminds, Joseph Meli and Matthew Harriton, allegedly promised 125 investors that they would make at least a 10 percent profit from a scheme to buy and resell tickets to Hamilton and other in-demand shows, including an Adele concert.
SEE ALSO: The 'Hamilton' soundtrack surpassed a major milestoneInstead, Meli and Harriton spent up to $2 million on jewelry, private school and camp tuition and gambling. Plus, they had to use at least $48 million to keep the Ponzi scheme going and pay off earlier investors.
The Ponzi schemers even said they had an agreement with a Hamilton producer to buy 35,000 tickets to the show. Investors were told they would get their money back within eight months.
This Tweet is currently unavailable. It might be loading or has been removed.
The SEC filed a complaint on Friday, alleging the scheme went back at least to 2015.
SEE ALSO: Lin-Manuel Miranda really wants you to donate to Planned Parenthood“As alleged in our complaint, Meli and Harriton raised millions from investors by promising big profits from reselling tickets to A-list events when in reality they were moving investor money in a circle and creating a mirage of profitability,” Paul G. Levenson, director of the SEC’s Boston office, said in a statement.
Investors were also promised they'd get 50 percent of any profits that were left over after everyone involved was repaid.
The evidence suggests they engaged in speculation...
Samsung Unpacked stream is set for May 12, 2025
Google takes on fake news with its biggest tool: Search
A newly developed artificial womb could save lives
Fox News now has a racial discrimination lawsuit on its hands
Waymo data shows humans are terrible drivers compared to AI
This brilliant case will end your kid's iPhone addiction
'Call of Duty: WWII' won't ignore the Holocaust anymore
'Barbed wire brows' is the latest polarizing, spiky eyebrow trend to hit the internet
Philips now allows customers to 3D print replacement parts
Google takes on fake news with its biggest tool: Search
Nvidia DLSS: An Early Investigation
These gloriously impractical VR goggles are the next Google Glass
Soon you'll be able to experience what it feels to be an 'Alien' neomorph
China deploys its dancing aunties on street corners to teach people about road safety
Hurricane Laura's impact lingered with nightmarish mosquito swarms
State Department says it will consider reviewing content after Mar
Our fruits and veggies aren't as fresh as you might think
Your headphones aren't spying on you, but your apps are. Here's why.
Trump's new tariff plan spares some smartphones, laptops
Disney pounces on 2019 release date for 'The Lion King'
Roku will make its own budget TVs'M3GAN' ending explainer: How that final shot sets up a sequelHillary Clinton spent an hour reading her controversial emails at a public art exhibitJohn Deere won't rest until farmers are the new techies20 AirPod memes that continue to be extremely relatableUnpacking Mike Fiers' incredibly bizarre baseball beardThe curse of incomplete makeup removal in skincare videos comes for Millie Bobby Brown'Avatar: The Way of Water's most violent death scene is superbNew York governor bans the sale of flavored eTCL's NXTPAPER Pro 12 tablet is average but so softQualcomm announces satelliteSouthwest Airlines: How much 25,000 Southwest points are worth and how to get themThe Chicago Bulls' logo is NSFW if you flip it upside downTCL's NXTPAPER Pro 12 tablet is average but so softHow does the head of New York Times Games play Wordle?Donald Trump goes after Chrissy Teigen on Twitter, gets brutally shut downTCL's RayNeo X2 will translate conversations right before your eyesPeriod tracking apps share health, mood, and sex data with FacebookMark Ruffalo smashes Boris Johnson's attempt to compare the Hulk with Brexit'Quordle' today: See each 'Quordle' answer and hints for January 8 Dice Roll: A Gambit for Civil Rights by Michael LaPointe Is Lockheed Martin making South Korean streetwear? Staff Picks: Ballet, Bob Dylan, and Black Smudges by The Paris Review International Dog Day deals: Save 50% at Petco through DoorDash or up to 35% at Wild One Bored Ape NFT investors sue Yuga Labs after NFT values crater The Print Bar in Australia: Everything you need to know 'May December' versus 'All IU vs. Auburn basketball livestreams: Game time, streaming deals, and more The Postmenopausal Novel by Darcey Steinke What is financial infidelity and how can it affect a relationship? The Soviet Tolstoy’s Forgotten Novel by Robert Chandler Poetry Rx: Remember the Sky That You Were Born Under by Kaveh Akbar 'The Boy and The Heron' review: Miyazaki delivers gorgeous, haunting new adventure Yes, WFH sex is a thing. No, it isn't a big deal. JBL portable speakers: Get a JBL Go 3 for 40% off Get up to 35% off iRobot Roomba vacuums at Amazon Susannah Hunnewell, 1966–2019 by The Paris Review How to watch OSU vs. PSU basketball without cable: game time, streaming deals, and more CU vs. UM basketball without cable: Game time, streaming deals, and more Sorry, Peter Pan, We’re Over You by Sabrina Orah Mark
2.4852s , 10108.6796875 kb
Copyright © 2025 Powered by 【1993 Archives】,Creation Information Network