Fake Rap Promoter Sentenced

A fake concert promoter in San Francisco has been sentenced to nearly four years in prison for a promotion scheme that prosecutors claimed netted the man more than $2 million from investors.

Maurice Michael McCant pleaded guilty in March to four counts of wire fraud. He admitted in court at the time that he promised investors 30 percent returns on their money, which he claimed would be used to promote rap concerts through his company Billionaire Catt Entertainment.

Instead, the funds were used to pay McCant’s expenses and other investors.

In court documents obtained by the San Jose Mercury News, prosecutors said McCant “fleeced at least 10 victims out of at least $2.5 million,” but returned more than $400,000.

U.S. District Court Judge Susan Illston has ordered the man to pay restitution to victims, the paper said, although officials with the U.S. Attorney’s office have yet to find any bank accounts with money in them.

The amount of restitution is scheduled to be determined at a Sept. 14 hearing.