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Episode 12: Hard-Rocking Fraudster

Hard-Rocking Fraudster
Jack Utsick, a concert promoter, flees when the SEC accuses him of running a $300 million investment fraud.

Hard-Rocking Fraudster

Jack Utsick, a concert promoter, flees when the SEC accuses him of running a $300 million investment fraud.

Video Clips

  • Beware of sloppy accounting     Tuesday, 12 Nov 2013 | 12:00 AM ET

    Jack Utsick was living the high life as a top concert promoter until he was accused of a $300 million fraud. His investors had some concerns but never knew that Utsick was allegedly robbing them blind.

  • Fugitive David Kaup arrested!     Tuesday, 12 Nov 2013 | 12:00 AM ET

    After the fraudster was featured on CNBC’s "American Greed: The Fugitives," the FBI got tips that led to his arrest.

  • Con man captured Wednesday, 27 Nov 2013 | 1:56 PM ET

    The Los Angeles Times reports on fugitive David Kaup’s arrest.

  • A list of Kaup's outrageous spending     Tuesday, 12 Nov 2013 | 12:00 AM ET

    David Kaup lost millions gambling clients' money on the foreign exchange markets. But in bankruptcy court, he claimed the money went to even stranger places, according to investor Joseph Hoffman.

  • Partying in plain sight     Tuesday, 12 Nov 2013 | 12:00 AM ET

    Hear from investor Bill Armstrong on how David Kaup has kept the party going by using aliases such as, "New Age Dave."

Case Files

  • Jack Utsick presents Wednesday, 13 Nov 2013 | 10:43 AM ET

    Jack Utsick sent flyers and promotional materials to investors. Here’s a 1994 newsletter.

  • Worldwide Entertainment 2003 Wednesday, 13 Nov 2013 | 10:48 AM ET

    Here’s a 2003 newletter that Jack Utsick sent out to investors touting his companies accomplishments for the year.

  • Tour announcement: $50,000 minimum Wednesday, 13 Nov 2013 | 10:55 AM ET

    Jack Utsick demanded big money for investors to participate in big name acts.

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