Phony concert promoter gets three-year sentence

Ordered to repay victims, who lost almost $2 million

May 04, 2002|By Gail Gibson | Gail Gibson,SUN STAFF

A Frederick County man who claimed to be a big-time concert promoter as he bilked investors of nearly $2 million was sent to federal prison yesterday and ordered to repay his victims, even though few expect ever to see the money fully returned.

Carl A. Glorioso, 31, of New Market was sentenced to three years and a month in prison by Chief U.S. District Judge Frederic N. Smalkin, who also ordered Glorioso to make more than $1.3 million in restitution - in $500 monthly payments - once he is released.

"I do want the victims repaid, and anything I can do with regard to that, I'm willing to do," Glorioso said in court.

Smalkin, along with several victims who came to court yesterday, appeared skeptical. Smalkin ordered Glorioso immediately detained and sharply warned Glorioso that once released from prison he would have to find honest work.

"Leprechauns and pots of gold don't exist in the real world," Smalkin said in court. "He's going to have to find some kind of legitimate employment, even if it's mixing mortar down at the construction site."

The sentencing did not end Glorioso's legal troubles. He pleaded guilty yesterday to a new federal fraud charge, admitting that he continued to dupe investors in fake entertainment events after pleading guilty to the original scheme.

Late Thursday, Glorioso also surrendered to Baltimore police on a charge of writing bad checks.

Federal authorities described Glorioso as a small-time events promoter whose fraud scheme began in 1999 when he persuaded Stephen A. Geppi, the comics book mogul and publisher of Baltimore magazine, to invest $590,000 to underwrite a Backstreet Boys concert.

Investors say Glorioso had no connection to the popular singing group. But to disguise that fact, he collected money from other investors, who believed they were helping stage concerts for acts such as Amy Grant and Jimmy Buffett, and used that money to pay back Geppi.

After he pleaded guilty to wire fraud last spring, Glorioso promised to begin repaying other victims. Instead, federal authorities said he ran the same scheme again, collecting more than $700,000 from individuals who thought they were investing in music videos.

Glorioso appeared last year in a low-budget movie, Getting Hal, and has promised that any earnings would go to victims in the fraud case. But Smalkin said that it was unlikely that the movie - which gained notice for auctioning off roles over the Internet - would solve Glorioso's troubles.

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