Scam Involving StarClub Inc. CEO Bernhard Eugen Fritsch
Bernhard Eugen Fritsch, CEO of StarClub Inc., was convicted of scamming investors and Hollywood stars out of more than $20 million through false claims about his celebrity app's business performance. He spent the funds on luxury items instead of app development.
Key Points
- Bernhard Eugen Fritsch convicted of wire fraud for false claims about his tech company
- Fritsch spent millions on luxury items instead of app development
- Investors lost over $25 million due to the scam