Fake Carey Promoter Accused Of $25 Million Fraud
A U.S. concert promoter has been accused of swindling $25 million (£15.6 million) from investors to promote Mariah Carey and Barbra Streisand shows - which were never set to take place.
Miko Dion Wady is alleged to have used the superstars' names, along with those of Shakira, Faith Hill and Tim McGraw, to convince 140 investors to put millions of dollars into Dezert Heat Entertainment.
According to legal papers, Wady produced bogus contracts with the singers and fake insurance receipts to ensure they signed up.
Wady is alleged to have used $3 million (£1.9 million) of the money to finance a lavish lifestyle which included luxury cars, a boat and multiple homes.
The 34 year old, from Arizona, is charged with money laundering and wire fraud. He is due in court for a bail hearing on Friday (08Jan10).