20-Year-Old EDM Club-owner Behind $500,000 Ponzi Scheme

Ian Bick has been organizing dances and EDM events for Connecticut teens since he was 15, but the federal government is now accusing him of running a much darker and more complex side h

Ian Bick has crammed a lot of living into his 20 years. For one thing, he’s a budding nightlife mogul; as a teen he ran Tuxedo Junction in downtown Danbury, Connecticut, a venue for EDM shows that’s had a few dust-ups with police and the city over booze regulations. He’s also, if the feds are to be believed, the mastermind behind a Ponzi scheme that raked in $500,000, money he and his buddies used to cavort around California, Key West, and New York City. He allegedly bought jet skis, stayed at the W Hotel, and shopped at Gucci and Tiffany’s while using money from new investors (who thought they were investing in shows and an eBay business) to pay off the old.

According to US Attorney Deirdre M. Daly’s office, in the course of the supposed scheme, he also allegedly lied to a Postal Inspector and falsified financial records.

The most amazing thing about Bick—who’s out on $250,000 bail after getting charged in January—is not his alleged misdeeds, but the fact that he was doing all of this while still a teenager….

Read more here: The 20-Year-Old EDM Entrepreneur Accused of Running a $500,000 Ponzi Scheme | VICE | United States