The FBI released the below:
Andres Fernandez was a smooth-talking concert promoter who told people he could make them wealthy investing in the glamorous industry.
“The average return for a promoter is about 10%, but they were telling their investors they’d get 50%-100% return on investment,” Harney said. “They used the whole mystique of concerts and the music industry and took advantage of the fact that the average person doesn’t know how it works.”
Harney suggests would-be investors be very careful about researching investments. Fraudsters often have sophisticated pitches and can show realistic documents. Vet everything through a third party and ask lots of questions before giving anyone money.