California Man Pleads Guilty In Concert Fraud

Quincy Krashna of Berkeley, Calif., pleaded guilty to wire fraud March 6, admitting he bilked European promoters out of a $450,000 down payment for a Red Hot Chili Peppers concert. 
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Krashna admitted that he took the down payment after misrepresenting his relationship with the band, falsifying an escrow agreement and arranging for the money to be wired to a personal account. 
He agreed to make restitution to the victims, but is now facing a 20-year maximum prison sentence, a $250,000 fine and potentially other forfeitures, fines or restitution, according to a statement from the Department of Justice. 
Sentencing in the matter is scheduled for July 10. 
An FBI investigation led to Krashna’s prosecution.
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