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Adele Tickets at the Center of Ponzi Scheme Scam

Two men have been charged with setting up a major scam to cheat music fans out of cash for Adele concert tickets.

Joseph Meli, 42, and Steven Simmons, 48, were charged for their involvement in Ponzi schemes on Friday (27Jan17).

The alleged conmen cheated people into believing they were investing in ticket businesses representing Adele and Broadway hit Hamilton.

Officials at the Securities and Exchange Commission claim the schemes led people in 13 states to invest over $80 million (GBP63.5 million). Meli's scheme included investments in businesses that would buy large blocks of tickets for major concerts and musicals, according to Billboard.com.

Both men were charged with criminal conspiracy, securities fraud and wire fraud and freed on $1 million (GBP790,000) bail.

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