Scam Artist Headed to Prison for Defrauding Concert Promoter

1774
SHARE

Bogus Connections to the Red Hot Chili Peppers

U.S. District Judge Jeffrey White sentenced Quincy Krashna to a 24-month prison sentence for his role in a concert promoting opportunity gone completely awry. Further, he ord

Enter Email to View Articles

Loading...
ered Krashna to pay $450,000 in restitution to the European concert promoters.

Krashna, 50, of Albany, California, pleaded guilty on March 6. Per the plea agreement, Krashna admitted to highly exaggerating claims of connections to the band Red Hot Chili Peppers to an Eastern European concert promoter.

From the outset, the concert promoters were interested in promoting Red Hot Chili Peppers concerts in Eastern Europe. After sealing the deal with the concert promoters, Krashna admitted that he requested and secured a down payment of $450,000. The payment was to be held in an escrow account, in order to secure the band’s services. If the band was unavailable, the bank would then return the money to the promoters, according to the agreement.

In the plea agreement, Krashna admitted to creating a fraudulent escrow agreement. In an attempt to legitimize his scam, Krashna used an escrow document that had a striking resemblance to an agreement used by Chase Bank.

1
2
SHARE
Previous articlePresident Trump Acknowledges 9/11
Next articleTelecom Expense Management Company Charged with Accounting Fraud
Peter Moreno
From the concrete jungle of Wall Street as an Investment Adviser to the narco-infested jungles of Colombia, as a U.S. Marine Corps Lieutenant Colonel. His first hand knowledge of both finance and crime present a unique perspective on the topic of financial crimes. Although he may not be the "most interesting man alive," his friends assure him he's in the top 10. He delivers provocative written insights on controversial topics, sips single malt scotch with a smile, and fancies a good cigar.