Co. Run By Accused Ticket Sale Ponzi Schemer Hits Ch. 11

By Matthew Guarnaccia (June 6, 2017, 5:46 PM EDT) -- A ticket resale company filed for Chapter 11 in New York bankruptcy court on Monday, just days after federal prosecutors accused its former CEO of carrying out a $70 million Ponzi scheme related to the purchase and resale of tickets for the Super Bowl, the World Cup and other premium events.

National Events Holdings LLC filed its voluntary petition while in possession of between $10 million and $50 million in liabilities, with $1 million to $10 million in assets. Counsel for the company, Stephen B. Selbst, told Law360 on Tuesday that the filing is the result of an alleged fraud conducted by...

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