A Berkley, California man has pleaded guilty to a fraud scheme where he misrepresented his affiliations with the Red Hot Chili Peppers rock group to would-be concert promoters, and now faces up to a maximum of 20 years in prison, according to coverage in the San Francisco Gate newspaper.
Quincy Krashna, 49, had his plea accepted by U.S. District Court Judge Jeffrey White this past Tuesday, according to Acting United States Attorney Alex G. Tse and FBI Special Agent in Charge John F. Bennett. Krashna admitted that he lied about a connection with the band to a group of Eastern Europeans seeking to promote a show featuring the Los Angeles-based band. He told these promoters that he could secure the band, provided that they could put together a $450,000 down payment for the performance.
To sell the fraud, Krashna created a fake escrow agreement, appearing to originate from Chase Bank. The promoters wired the money into this account – which turned out to be his own personal bank account. He distributed the money throughout different accounts under his name, continuing to deceive the promoters until March 2012, at which point the ruse fell apart due to that being the deadline to have the band signed.
This past January, he admitted to the fraudulent behavior and was charged with seven counts of wire fraud.
He pleaded guilty to one count on Tuesday, in addition to refunding the promoters in full. On July 12, Krashna is scheduled for a sentencing where he faces up to a maximum of 20 years in a prison, with an additional $250,000 fine, three years of supervised release, as well as fines and special assessments potentially tacked on.