New York Man Pleads Guilty To Ticket Fraud

A former teacher in New York has pled guilty to raising funds for tickets, but instead of buying stubs, repaying previous investors, effectively running a Ponzi scheme.

Chris Potter – Gavel

Jason Nissen admitted he defrauded victims of more than $60 million, raising funds from investors supposedly to buy tickets to Broadway shows and sporting events in bulk, but instead scamming the victims.

Events he purported to be buying tickets for included performances of “Hamilton” and the Super Bowl. Nissen’s plea deal will see him serving five to 10 years in prison, according to Bloomberg. He also reportedly faces a fine of up to $250,000 and has to make $72 million in restitution.

Nissen was once a math teacher in Queens, until he was suspended and eventually fired after selling tickets to a free Dave Matthews concert.