ORLANDO, Fla. (CW69 News at 10) – U.S. District Judge Paul G. Byron sentenced Edison Denizard, 41, of Orlando to four years and nine months in federal prison for participating in a conspiracy to commit wire fraud, according to a statement from the Middle District of Florida U.S. Attorney’s Office.
As part of Denizard’s sentence, the court also ordered him to forfeit the real property located at 7617 Toscana Boulevard in Orlando, which is traceable to proceeds of the offense. In addition, the court entered a $1,677,794.57 money judgment against Denizard, which represents the proceeds that Denizard received as part of the offense.READ MORE: Florida Man Pleads Guilty To $7 Million Investment Fraud Conspiracy
Denizard had pleaded guilty on October 19, 2020.
According to court documents, between March 2016 and June 2017, Denizard raised millions of dollars from dozens of victims who believed that they were investing in specific music concerts through legitimate businesses owned by Denizard and a co-conspirator, Andres Fernandez. Fernandez and Denizard lured investors by guaranteeing them large monetary returns and promising that all of the funds that they provided would be invested in events by top artists, including Drake, Garth Brooks, Pitbull, The Weeknd, and Maná.READ MORE: ‘I Feel Stupid’: Woman Loses $50,000 After Being Duped By Accused Ponzi Schemer
In fact, neither Denizard nor Fernandez was involved in most of the events.
Denizard used most of the funds that he had received from investors to pay fraudulent “investment returns” to earlier investors and for his own personal use, including to purchase a new lakefront residence, to make payments on his new luxury vehicle, and to stay in luxury hotels. The total amount of victims’ losses attributable to Denizard are $7,479,453.
Fernandez, who was the instigator of the scheme, previously pleaded guilty to 12 counts of wire fraud and was sentenced last year to 10 years in federal prison.MORE NEWS: Reality TV Star Indicted On Federal Charges