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mar
28

Poker pro Indicted in $6.2M Super Bowl & World Cup Ticket Scam

Tags: NFL, Seyed Reza Ali Fazeli, Super Bowl.
Posted on Wednesday, March 28, 2018 by "T".

Federal prosecutors stated that a poker player from California faces charges that he duped investors out of more than $6 million in a Super Bowl and World Cup ticket-flipping scam.

On March 15, Thursday, Seyed Reza Ali Fazeli, age 49, a poker player resident of Orange County, California, had been indicted at the U.S. Attorney's Office on two felony counts of wire fraud, which can potentially send him to jail for up to 40 years.

From May 2016-May 2017, Fazeli managed to raise a total of $6.2 million from investors in order to purchase Super Bowl and World Cup tickets at face value and then resell them to make a substantial profit. The money was wired to a business company owned by the poker pro, named Summit Entertainment, a ticket brokerage in Las Vegas.

The indictment states that the investors did not receive a profit and it turns out Fazeli never even bought the tickets in the first place. Instead, he used the money on personal expenses and to pay off gambling debts.

In an affidavit filed with the court, FBI Special Agent BC Mason wrote, "A large portion of investor funds were used for the personal benefit of Fazeli, including millions spent at Las Vegas casinos."

Fazeli purportedly went on a gambling spree at the Aria and Bellagio, two high-end Las Vegas Strip-based casinos, and he also paid off some gambling debts on the side.

After a lengthy FBI investigation, on February 14 Fazeli was arrested but then released the next day on a $120,000 bond. He was indicted on March 15 and he was scheduled to be formally arraigned on March 26.

Fazeli's business company also operated under the name OnlineTickets.com and PacerTickets.com. Now these websites are no longer active, but prior to the arrest the sites were still actively reselling tickets (upon conducting a search with the use of the Wayback Machine, an Internet archive tool).

It is predictable that if you borrow or receive money from investors for a specific purpose, but use it for personal gain instead and the investors end up making no money at all, then they will definitely go ahead and sue you.

Aside from his pending criminal charges that could put him in jail for 40 years (which is a very very long time for humans), Fazeli is also facing numerous civil lawsuits related to his alleged ticket scam operation.

In 2015, famous Republican donors Mel Sembler and his family, gave the poker player $5 million to buy and sell sporting event tickets for profit, which included a block of tickets to the 2016 NCAA Men's Basketball Final Four. Sembler said Fazeli informed him the Final Four sales went very well and convinced the GOP donor to use it further on 2017 Super Bowl tickets to make an even bigger profit. The unsuspecting 87-year-old Florida real estate developer agreed. Furthermore, Fazeli convinced again his Sembler investors the sales were getting great results and convinced them to invest one more time, and this time on the 2018 FIFA World Cup.

However, due to the Semblers never receiving any payment not even once from the investment, in July 2017, the family's attorney filed a lawsuit against Fazeli.

Another lawsuit filed in Nevada by ‘Ticket Man' says that in 2016, they paid over $2.5 million for Super Bowl tickets after they were promised to gain $3 million in profits. The business received not even one cent back from the deal, and that "repeated phone calls and emails to Fazeli and Summit were not returned."

If ever Fazeli is convicted in a criminal court, the $5 million lawsuit from the Semblers may most likely be the least of his worries.

Source:
https://www.mercurynews.com/2018/03/16/o-c-poker-pro-accused-of-ripping-off-investors-in-suspected-super-bowl-world-cup-ticket-flipping-scheme/

 

 


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17 comments for "Poker pro Indicted in $6.2M Super Bowl & World Cup Ticket Scam"

 CALICUL3/28/2018 3:56:36 PM GMT
Another interesting case about deception. Seyed Reza Ali Fazeli took 6 millions dollars from few investors and now risks 40 years of prison. Considering it is 49 years old it is possible that he gets out of prison in his coffin. There is a much better chance for him to pay those debts but unfortunately for him he destroyed everything when he cheated investors.
 doubletop7773/29/2018 8:44:07 AM GMT
This sort of crime leaves a very bad taste in my mouth and i hope that these people can get their money back. If this guy is guilty, i hope that he gets punished to the full letter of the law
 Gerimantas3/29/2018 10:56:28 AM GMT
This is a little strange situation to me, I think it is bad business to invest in some tickets of events and then try to sell tickets more expensive and make profit, looks to me very risk business, if you not sell the tickets they cost $0 after the event, so better buy real estate, if you sell for progit goid, but if you don't you can rent it
 pajalnick3/29/2018 11:22:19 AM GMT
six million dollars of course this is a very big jackpot and many criminals are willing to risk everything to get this money .... and no horrible prospect will stop them ..... now in our world it seems to me that you can not escape justice ... so he was caught .... so he needs .... grouse
 dule-vu3/29/2018 4:37:52 PM GMT
dont what to say about this article!I read every word and dont how can he take so much money from them and they didnt ask earlier to back and to loan him again money for new contest!very strange things,but where to read this kind of news,then from america!and to eanr money on tickets,who will be sold for bigger price for competitions,I dont understand!
 Sandmanilo3/29/2018 7:21:21 PM GMT
A very strange story, if this guy is a businessman and a successful poker player, what's the point in taking money and spending it on casino games? He didn't know that house always wins and fraud is prosecuted by law?
 pochui3/30/2018 3:55:25 PM GMT
ok I must admit too that this is kinda odd business for some rich fellas to invest, basically give money to so called tickets pro so he can scalp the market- buy lotsa tickets in advance for cheaper prices and then resell them later for hopefully some profit, or go bust...
 dule-vu3/30/2018 4:52:27 PM GMT
I understand why he took money from this people and what he wanted to do,because he had so many debt in casinos and who know from what people,so he wanted to try to back something and eanr again on poker or casino games,but dont understand this people who loan him so much money!
 CALICUL3/31/2018 3:59:10 PM GMT
those people who have invested money through this player they believed that he will come out a small profit because in sua ticket prices for different sports climb when sold by intermediaries. In my country these people are called bișnițar and that means: A person who practices business by making personal profits through dishonest ways. He buys many tickets and sells them at a higher price. That's why those investors believed in this crook.
 Mober4/2/2018 4:47:58 AM GMT
Another one bites the dust.
He was after big money scamming people, now he will be behind bars.
Some people are after riches, and they dont care for anything, how to get there,
risking everything.
This one got busted Smile
 bowie19844/2/2018 11:30:17 PM GMT
It was not that bad of a scam though, since once those people invested into this kinda stupid idea (Super Bowl and WC tickets are really not that lucrative tbh) if the company go broke he would have no personal responsibility paying those people back since everything was privately funded. But when he started to pay of his private things with company money he incriminated himself. Next time he need better lawyers.
 dule-vu4/4/2018 5:43:16 AM GMT
well in america people want to invest in everything and they will give money to anybody,just see movie wolf from wall street,its same today!you will always find people who wants fast money and who will loan that money to total stranger!
 CALICUL4/4/2018 4:03:09 PM GMT
These people who borrow money from another businessman to invest somewhere have the guarantee that they will make a profit. Most often they do that and then share the profit with investors. In this case money was invested in debt of this player. Very bad and this player deserve the prison sentence.
 bowie19844/7/2018 1:43:15 AM GMT
Posted by CALICUL:
These people who borrow money from another businessman to invest somewhere have the guarantee that they will make a profit.

No investment in the world could make them guarantee profit because the risk is always there and if you read the article they literally spelled out that the guy just paid of his other debts with the money he borrowed for this venture.
 dule-vu4/7/2018 10:51:55 AM GMT
I dont understand that you have people who will give money again and again,even he didnt back to them first loan and he didnt give profit or anything!and to take millions from people,he was smart to do it,but now he will pay for many years in prison!
 CALICUL4/7/2018 4:06:42 PM GMT
In this case the risk was small because when you buy a lot of tickets with 20 dollars the ticket and sell it for 25 or more profit is guaranteed with the condition to sell these tickets. Probably this is legal in America. Because of this the investors believed in it... All businessmen buy at factory price and sell at a higher price. If the method would change then the intermediaries would disappear...
 godoy4/10/2018 6:05:17 PM GMT
that ugly stop this thing that more meaningless to do that popr that since he has good companies with this he decreed his bankruptcy for the rest of the life because if condemned already it was and and fuck it has to be seen even like these great punters and players of poker lives because they are always broken or due

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