MIAMI (CBSMiami/AP) — A former concert has entered a not guilty plea to federal charges of money laundering and fraud.
Jack Utsick, who was recently brought to the U.S. from Brazil, entered the formal plea Tuesday in Miami federal court.
Utsick was actually extradited last year following a lengthy Brazilian court fight, but encountered difficulties hiring a lawyer. Utsick is currently represented by a public defender.
Prosecutors say Utsick operated his Worldwide Entertainment Inc. promotion company as a Ponzi scheme, repaying older investors with money from newer ones. The scheme allegedly defrauded an estimated 3,300 investors out of nearly $300 million.
The company also staged tours of top-name acts including the Rolling Stones, Elton John, Aerosmith and the Pretenders, among others.
A tentative March 23 trial date has been set.
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