Federal agents said an Orlando man made big pitches and promises to investors, claiming he had connections to music artists like Pitbull.
He's accused of leaving dozens of those investors out hundreds of thousands of dollars, and now, the FBI has caught up to him.
This is all stemming from a 12-count federal indictment that came down in January. It shows 37-year-old Andres Fernandez got paid as much as $600,000 at a time and many victims never got a return on their investments.
Besides a few clips on YouTube, there's not much of an online presence for Kadaae Entertainment, Fernandez's company.
No one answered the door at the home in Orlando listed in state records as the address for the company.
There was also no answer at an address for Fernandez.
FBI agents said he's the man behind a fraudulent entertainment business.
The allegations were spelled out against him, detailing a scheme to get people to invest in concert events he claimed were being produced by his company with artists like Julio Iglesias and Pitbull.
FBI agents said Fernandez even promised those investments "would produce returns of up to 100 percent."
WFTV found wire transfer amounts going to his company's bank account ranging from $150,000 to $600,000.
Investors would later learn he had no connection to the artists he pitched.
Agents said he pocketed "portions of the funds for his own personal use" in an operation that racked up $25 million.
It doesn't end there, though.
Orange County court records show nearly a dozen pending civil cases against Fernandez or his company for breach of contract or fraudulent transactions.
If convicted, he faces up to 20 years in federal prison for each of the 12 counts.
About the Author
