Last Updated on October 19, 2020 by admin
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File Picture. Credit score: Getty Photographs
Orlando, Fla. (CW69 Information at 10) – Edison Denizard, 40, of Orlando, pled responsible to taking part in a conspiracy to commit wire fraud. Denizard faces a most penalty of 5 years in federal jail in keeping with a press release from the U.S. Legal professional’s Workplace.
A sentencing date has not but been set.
In line with the plea settlement, between March 2016 and June 2017, Denizard raised tens of millions of from dozens of victims who believed that they had been investing in particular music concert events by way of professional companies owned by Denizard and a co-conspirator, Andres Fernandez. Fernandez and Denizard lured traders by guaranteeing them giant returns and promising that they might make investments all of the funds in occasions by prime artists, together with Drake, Garth Brooks, Pitbull, The Weeknd, and Maná. In actual fact, neither Denizard nor Fernandez participated in many of the occasions.
Denizard used many of the funds he acquired from traders to pay fraudulent “funding returns” to earlier traders and for his personal private use, together with the acquisition of a brand new lakefront residence and luxurious resort stays. The full quantity of victims’ losses attributable to Denizard are $7,479,453.
Fernandez beforehand pleaded responsible to 12 counts of wire fraud and was sentenced earlier this yr to 10 years in federal jail.
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