A Nov. 2 trial date has been set for a former concert promoter extradited to the U.S. from Brazil to face charges he operated a $300 million fraud scheme.
U.S. District Judge Cecilia M. Altonaga set the date at a hearing Tuesday for Jack Utsick, who has pleaded not guilty to fraud and money laundering charges.
Prosecutors say Utsick operated his Worldwide Entertainment Inc. company as a Ponzi scheme, repaying older investors with money from newer ones. The scheme allegedly defrauded an estimated 3,300 investors out of nearly $300 million.
The company staged tours of top-name acts including the Rolling Stones, Elton John, Aerosmith and the Pretenders, among others.
Utsick was extradited from Brazil last year after a lengthy court battle. U.S. authorities say he fled there to avoid prosecution.
