Mahtani’s fraudulent scheme netted around $100,000 from unsuspecting victims in Wisconsin and throughout the United States.
Highlights
- Nikhil S. Mahtani pleads guilty to wire fraud, admitting to a lucrative sports ticket scam.
- Scheme nets approximately $100,000 from unsuspecting sports fans across Wisconsin and the U.S.
- Facing up to 20 years in prison, Mahtani’s sentencing is scheduled for May following his admission of guilt.
In a significant development in federal court, 28-year-old Nikhil S. Mahtani of New York City has pleaded guilty to wire fraud, marking a closure to a deceptive scheme that preyed on Wisconsin residents and others nationwide. From early 2019 to late 2022, Mahtani placed over 1,000 Craigslist ads offering nonexistent high-end tickets and luxury suites for major sporting events, defrauding fans out of approximately $100,000.
This elaborate scam affected numerous victims, including a large group in Wisconsin who, during the Milwaukee Bucks’ NBA Championship victory in 2021, were denied entry due to fraudulent tickets. This distressing experience underscores the importance of verifying ticket authenticity to avoid similar disappointments.
Mahtani now faces a possible 20-year imprisonment sentence, a fine up to $250,000, and subsequent supervised release, with sentencing anticipated in May. The case, brought to light by diligent investigation from the NYPD Financial Crimes Task Force, the U.S. Department of Homeland Security, Homeland Security Investigations, and the Winnebago County Sheriff’s Office, serves as a cautionary tale about the perils of fraudulent online ticket sales. Assistant United States Attorney Daniel R. Humble leads the prosecution, highlighting the legal system’s commitment to tackling such deceptive practices and safeguarding consumers.
