Orlando, home to the “happiest place on Earth” and some of the country’s biggest entertainment acts, is currently home to a local man that was sentenced in February 2021 to four years and nine months in federal prison for his involvement in a multi-million dollar wire fraud scheme. Edison Denizard, the man in question, is facing lengthy sentences in addition to $1.7 million in judgement and property forfeiture.
The U.S. Department of Justice presented court documents outlining how Denizard raised $7 million dollars from investors over the course of a year with claims to offer high-yield returns for the organization of concerts and performances by internationally renowned musicians and celebrities. Denizard, along with co-conspirator Anthony Fernandez, lured victims into fronting cash by using a legitimate business registered under Denizard’s name called Kadaae Entertainment, and claiming ties to “top artists, including Drake, Garth Brooks, Pitbull, The Weeknd, and Maná” that did not exist, explains a recent DOJ press release.
Instead of being used for the production and organization of these concerts, the funds were used to cover the cost of Denzard’s personal luxury expenses including 5-star hotel stays, new vehicles, and a lakefront property purchased for just over $1M in 2016 according to the county’s public records. The Securities and Exchange Commission (SEC) and FBI which investigated the case found that only $311,000 of investor’s money had been put towards concerts; generating a mere $327,000 in revenue, which most victims of the ponzi scheme never received the payout for.
Investment fraud in the United States is prosecuted severely, so it’s important to work with an attorney like Michael Padule who has years of experience working with the DOJ and understands the complexities of these federal cases. To schedule a consultation with us, please contact (305) 455-5206.
