Jason Nissen

Quick summary on Jason Nissen

Jason Nissen, a former math teacher from Queens, New York, orchestrated a $71 million Ponzi scheme involving fraudulent ticket resales. Through his company, National Event Co., Nissen deceived investors by promising profits from the resale of tickets to high-demand events, including the Super Bowl and the Broadway hit “Hamilton.”

The Scheme: Nissen’s operation lured investors with assurances of lucrative returns from purchasing and reselling event tickets. Instead of using the funds as promised, he diverted the money to repay earlier investors and cover personal expenses, perpetuating the Ponzi scheme. The fraud unraveled, leading to significant financial losses for numerous victims.

Legal Proceedings: In 2017, Nissen pleaded guilty to one count of wire fraud. Despite facing a potential 20-year prison sentence, he was sentenced to 27 months in federal prison in 2019. The relatively lenient sentence considered factors such as his expression of remorse and personal circumstances, including his efforts to support his family through various jobs after the scheme’s collapse. Additionally, Nissen was ordered to pay restitution totaling $71,878,669.90 to his victims.

Conclusion: The case of Jason Nissen serves as a cautionary tale about the perils of investment fraud and the importance of due diligence. It underscores the severe consequences of deceptive financial practices and highlights the need for vigilance among investors to protect themselves from similar schemes.