TAMPA, Fla. (CW44 News At 10)– St. Petersburg man being charged with two counts of wire fraud after Acting United State Attorney Karin Hoppmann anncounced Friday June, 11, the unsealing of an indictment.

Thomas Coelho, 52, of St. Petersburg, formely known as Thomas Jurewicz, is being charged with two counts of wire fraud.

If convicted, Coelho faces a maximum penalty of 20 years in federal prison on each count. The indictment also ntifies Coelho that the United States is seeking a money judgement of approximately $1.8 million, the proceeds of the wire fraud scheme.

According to the indictment, Coelho recruited investors for a business opportunity that purportedly involved purchasing event tickets and reselling those tickets to third parties for a profit. Coelho used his association with persons and entities in the entertainment industry to give the appearance of the means and ability to acquire tickets to certain high-profile events. Instead of using investors’ money to buy event tickets, however, Coelho primarily used the funds for personal expenses, entertainment, and cash withdrawals.