MIAMI (CelebrityAccess) — As the case was about to go to trial, former promoter powerhouse Jack Utsick plead guilty on Friday to defrauding a single investor.
According to the Miami Herald, Utsick, who produced tours for artists such as Michael Jackson and Fleetwood Mac, will face up to 17 years in federal prison and faces potential restitution costs of more than than $169 million to thousands who invested in a concert promotion Ponzi scheme allegedly concocted by Utsick.
Utsick's attorneys painted their client as in poor shape, both financially and healthwise, potentially mitigating facotrs when Utsick faces sentencing on August 23rd.
Utsick's trial has slowly been making its way through federal courts since he was successfully extradited from Brazil in late 2014. Utsick was charged with selling unregistered securities to finance concerts featuring bands that included Santana, the Pretenders and Aerosmith, according to court records. – Staff Writers