Information is Wealth.

Joseph Meli, accused of defrauding some 130 investors of some $95 million in a scheme framed as the resale of tickets to  Hamilton  and other events, pleaded guilty Tuesday to one count of securities fraud. Previously he had entered a plea of not guilty to five counts of fraud and conspiracy. Meli and two associates  claimed  to investors that they had a relationship with the producer of  Hamilton  and could purchase tickets in bulk to the Broadway smash and other popular attractions, and resell them on the secondary market for a tidy profit. Following the classic structure of a  Ponzi scheme , Melli and his associates — including Steven Simmons, who  pleaded guilty  on Monday — would pay off older investors with the investments of new ones. Meli faced 85 years in prison and tens of millions of dollars in fines if he received the maximum sentence on each of the five charges. The plea agreement came eight days after the filing o...