An Arizona-based concert promoter has been accused of duping investors into spending $25 million with the promise of delivering concerts featuring some of the music industry's top acts.
According to documents obtained by Contact Music, Miko Dion Wady is alleged to have used the names of Mariah Carey, Shakira, Tim McGraw and Faith Hill to convince some 140 investors to put millions into his Dezert Heat Entertainment company.
While no concerts ever took place, sources say Wady went pretty far to convince investors with fake contracts and insurance receipts.
Wady is said to have used $3 million of the $25 million to support a lifestyle that includes luxury cars, extensive travel, a boat and multiple homes. He is due in court Friday, Jan. 8 on charges of money laundering and wire fraud.