Always remember to check your credit card’s transaction history.
Kyle Tessiero, a longtime accountant for Latin artist Mark Anthony, was sentenced to up to six years Wednesday after he came clean about stealing a tidy sum from the singer – $9 million – over the course eight years. Tessiero used the money to fund an elaborate lifestyle fine cuisine and strip clubs, while also using his boss’ dime to fund various travel expenditures.
The bills were wrung up on Anthony’s American Express card and later paid f by way his bank account. Given the severity the theft, Judge Laurie Peterson the Manhattan Criminal Court had the option adding an extra three years to Tessiero’s sentence but opted for leniency.
Marc Agnifio, Tessiero’s lawyer for the trial, explained that the defendant had gone to authorities before his guilt had been discovered, which lent the court to their decision. The whole incident’s unraveling came after American Express made an inquiry about one the charges.
The accountant’s firm in Los Angeles once worked for such high-prile artists as Drake and Pharrell, before Tessiero was hit with the charge grand larceny.
After pleading guilty to two counts Wire Fraud this week, Billy McFarland has now been ordered to pay back the $26 million he admitted to stealing from investors. Rapper Ja Rule has since defended his honest intentions for the Festival, pointing to a lack complicity between he and his business partner.
The funds for the now infamous Fyre Festival were accrued through false statements, including fraudulent bank loans and false insurance policies. The amount to be repaid is in excess $26 million, in accordance with the plea bargain he signed addressing the numerous lawsuits filed by the wronged investors.
Billy Mcfarland confessed feelings remorse in his closing statements.
‘I deeply regret my actions, and I apologize to my investors, team, family, and supporters who I let down,”
Fyre Fest, as you might recall, was being hyped as the ultimate musical getaway. Once festival goers arrived in the Bahamas, after paying tickets ranging between $5,000 and $250,000, they found themselves in a misshapen lot instead the luxury accommodations they had been promised.
As previously reported, McFarland is also facing between 8-10 years in a federal prison. The final decision is set for June 21st.