LOS ANGELES -- Federal prosecutors say a professional poker player from Orange County has admitted he bilked investors out of more than $6 million in a Super Bowl and World Cup ticket-flipping scam.
The U.S. Attorney's office says Seyed Reza Ali Fazeli, 49, of Aliso Viejo, pleaded guilty Tuesday to wire fraud.
Prosecutors said Fazeli ran a Nevada-based company called Summit Entertainment that raised millions by promising to purchase tickets for resale to the Super Bowl and World Cup.
He never bought the tickets and instead used the money for personal expenses and to pay off gambling debts, according to prosecutors. He told investors the resale efforts were unsuccessful because the NFL prohibited their resale.
His company operated under the names onlinetickets.com and pacertickets.com and solicited investors in Orange County, Houston and Las Vegas to send about $6 million to purchase the tickets.
The 49-year-old faces up to 20 years in prison when he's sentenced in January in federal court.
Fazeli is facing civil lawsuits related to the scheme.
He played on the pro poker circuit for several years in Las Vegas.