Ticket reseller sued after making $1 million off Taylor Swift tickets
The Federal Trade Commission (FTC) claims KIG purchased tickets worth approximately $57 million and resold them for $64 million, generating over £1.2 million profit from Taylor Swift tickets alone.
KIG allegedly bypassed Ticketmaster 's security measures and purchasing limits using various tactics, including spoofed IP addresses, fake accounts, and numerous SIM cards.
The lawsuit asserts that KIG violated the FTC Act and the Better Online Ticket Sales Acts by circumventing technological controls designed to enforce ticket limits.
Key Investment Group has stated it will "vigorously defend itself" against the allegations, characterising the lawsuit as "regulatory overreach" and a misinterpretation of the law.
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