Man indicted in Wonder concert scam released
Updated On: Nov 13 2012 11:09:36 PM HST
A South Carolina federal magistrate has released the man accused of scamming the University of Hawaii out of $200,000.
Marc Hubbard has been released on $100,000 unsecured bond. He was required to surrender his passport and has been restricted to home detention.
He will be allowed to travel to South Carolina and Hawaii with a monitoring device. The U.S. attorney’s office in Hawaii is in the process of setting an arraignment date for Mr. Hubbard.
He was charged with wire fraud, after he allegedly initiated a web of lies over a fake Stevie Wonder concert fundraiser for UH in August.
FBI agents say Mr. Hubbard netted two business partners for the scam.
44-year-old Sean Barriero admitted last week that he wired UH’s money into his business account instead of putting it into an escrow account.
He then distributed the money between himself, Hubbard and a third promoter.
Agents say both men quickly spent the money on personal expenses and business debts. Barriero's girlfriend also put down $25,500 for a Mercedez-Benz sports utlity vehicle.
Barriero faces up to 10 years in prison when he's sentenced in February.
Hubbard faces up to 20 years in prison for wire fraud.
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