A former music promoter who produced events for top-name acts such as the Rolling Stones, Elton John and Aerosmith has been extradited from Brazil to face U.S. charges in a $300 million fraud case.
Prosecutors say 72-year-old Jack Utsick fled to Brazil in 2006 during investigations by the FBI and Securities and Exchange Commission. After a lengthy court battle, Brazil ordered his extradition in August and he was flown to Miami on Saturday.
Continue Reading Below
Authorities say Utsick operated his Worldwide Entertainment Inc. promotion company as a Ponzi scheme, repaying older investors with money from newer ones. The scheme defrauded an estimated 3,300 investors out of nearly $300 million.
Utsick is charged with eight counts of mail fraud, each carrying a maximum 20-year prison sentence. He has not yet entered a plea.