National Events DIP Lender Wasn't Wise To Ponzi: Examiner
Law360, New York (January 5, 2018, 8:35 PM EST) -- The court-appointed examiner in the Chapter 11 case of alleged Ponzi scheme vehicle National Events Holdings LLC has cleared one of the defunct ticket reseller's main creditors and debtor-in-possession lender of any wrongdoing in a report filed with the New York bankruptcy court.
Diamond wholesaler Taly USA Holdings Inc. loaned National Events roughly $57 million over the past five years, and several of its executives were on friendly terms with Jason Nissen, the ticker reseller's founder and former CEO.
He admitted in May that he'd been operating the formerly legit ticket reseller as a Ponzi scheme for at least two years...
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