Washington man ordered to pay $7M in restitution after pleading guilty in event ticket scheme

A 52-year-old Washington man has been sentenced to more than four years in prison and ordered to pay more than $7.6 million in restitution after pleading guilty to running a Ponzi scheme that involved tickets for the Super Bowl and other high-demand events.

Kevin Halverson of Bothell was sentenced Monday in federal court in Seattle.

According to court papers, Halverson told more than 50 investors he could get them a high rate of return by buying tickets to such events as the Super Bowl and Indy 500 and then selling them for a big profit.

Authorities say most of the investor money was used by Halverson or to pay off earlier investors.

Halverson pleaded guilty May 7.