NEW HAVEN, Conn. (AP) — A former Connecticut nightclub owner is heading to federal prison for defrauding investors out of almost a half a million dollars.
The U.S. Attorney’s Office says 21-year-old Ian Bick, of Danbury, was sentenced Wednesday to three years behind bars. Bick was convicted last year of six counts of wire fraud and one count of money laundering.
Authorities say Bick ran several Danbury-based entertainment companies. He obtained investments from friends and acquaintances by promising high returns through the re-sale of electronics and by organizing and promoting concerts.
Prosecutors say Bick spent the money on lavish trips, unrelated businesses and other personal expenses. Investigators say he bilked investigators out of a total of $480,635. A judge has ordered him to make full restitution to his victims.
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