Latest news with #Fritsch
Herald Sun
26-04-2025
- Sport
- Herald Sun
Demons' Bayley Fritsch melts hearts with newborn son at the MCG
Don't miss out on the headlines from Page 13. Followed categories will be added to My News. Hawthorn are supposed to be the family club, but Melbourne are clearly making a run for it. Demons forward Bayley Fritsch, had his 18-day-old son Noah, with ear muffs, in the team's rooms to celebrate their second victory of the year. The newborn is clearly a good-luck charm for Fritsch who was dropped last week after a disappointing start to the season. But he hit back in style kicking a crucial goal in the third quarter to keep the Dees season alive. Fritsch was enjoying the 'great moment' with his son in his arms during the team song. There were plenty of kids in the rooms post match, and no wonder, a special creche has been set up at the MCG to mind them during games. Charlotte Viney, who is expecting her third child with Demons midfielder Jack Viney, said there were so many kids of players at the club now a special nursery and child minding service had been created for WAGS at the hallowed turf's rooms so they could focus on watching the games. Page 13 Joe McGuire has outdone his famous father with a visit to the White House to meet with US president Donald Trump. | Watch the video. Page 13 The Chinese owners of Moonah Links Golf Resort were circling the wagons this week to put an end to Dan Andrews' quest to join a coastal golf club — which is an issue given the former Victorian premier now makes a quid from work with Chinese businessmen.
Fox News
05-04-2025
- Business
- Fox News
LA man found guilty of scamming investors, Hollywood stars out of over $20 million to fuel lavish lifestyle
A man from Malibu has been convicted of scamming investors and Hollywood stars out of more than $20 million through false claims about his celebrity app's business performance. Bernhard Eugen Fritsch, the founder and CEO of StarClub Inc., a Santa Monica-based tech company, was held accountable for an elaborate fraud that fueled his lavish lifestyle, Fox News Digital has learned. Fritsch, 63, was found guilty by a jury on Thursday of one count of wire fraud after it was revealed that he lied to investors about the financial success and future potential of his tech company, according to the Department of Justice. He falsely promised that the company's app, StarSite, would help celebrities and social media influencers monetize their brand endorsements. Instead of using the funds for the app's development, Fritsch spent millions on luxury cars, yachts, and a multimillion-dollar Malibu mansion, the press release stated. From 2014 to 2017, Fritsch raised over $20 million, pitching StarClub as a game-changer for the entertainment industry. He claimed the app would allow celebrities to easily post branded content on social media, generate revenue from advertising and share profits with influencers. As Fritsch pitched the StarClub offering to investors, he made several false and fraudulent claims, including that his company was on the verge of entering commercial deals with, or obtaining investments and buyout offers from major media companies such as Disney – that StarClub earned $15 million in revenue in 2015. Instead of using the funds to expand the company or improve its technology, Fritsch purchased luxury cars like a McLaren and a Rolls-Royce, renovated his multimillion-dollar Malibu home and even made costly upgrades to his yacht. Law enforcement seized the yacht, McLaren and the Rolls-Royce, and they are subject to forfeiture proceedings. One victim invested more than $20 million in StarClub over the course of two years, based on Fritsch's false statements, according to the Department of Justice. This victim also introduced Fritsch to other victims who invested millions of additional funds in the company. Prosecutors estimate that Fritsch caused at least approximately $25 million in victim losses because of his scheme. Sources close to Fox News Digital have learned that Hollywood celebrities, including Enrique Iglesias and Tyrese Gibson, may be involved in this high-profile scheme. In 2014, singer and actor Tyrese hosted a private party for StarClub Inc. Actresses including Caitlin O'Connor, Elise Neal, rapper Trinidad James and model Khadija Neumann attended the star-studded event. Meanwhile, Fritsch has been sued in Los Angeles County Superior Court three times over allegations of fraudulent financial schemes. Music executive Haqq Islam and his company sued StarClub and Fritsch in 2013, claiming breach of contract and fraud, according to The Los Angeles Times. Islam alleged that Fritsch owed him $750,000 for luring Hollywood stars such as Jessica Simpson to meet with Fritsch and consider participating in StarClub's business ventures, according to reporting by Courthouse News Service. Reps for Tyrese, Iglesias and Simpson did not immediately respond to Fox News Digital's request for comment. The jury found Fritsch not guilty of a second wire fraud count. He remains free on bond. A sentencing hearing is scheduled for Fritsch in the upcoming months. Fritsch faces a statutory maximum sentence of 20 years in federal prison.
Yahoo
05-04-2025
- Business
- Yahoo
He sold investors on a new app, but spent the money on cars, his Malibu mansion and yacht, feds say
A Malibu man has been convicted of fraudulently obtaining an estimated $25 million in investments in his tech company and using the funds to finance a lavish lifestyle that included a Rolls-Royce, mansion by Carbon Beach and yacht, authorities said. After a nine-day trial, Bernhard Eugen Fritsch, 63, was found guilty of one count of wire fraud and faces a sentence of up to 20 years in prison, according to the U.S. Department of Justice. The jury found him not guilty of a second wire fraud count. Fritsch remains free on bond and is set to appear at a sentencing hearing in the coming months. An attorney for him did not immediately respond to a request for comment Friday. Read more: He sold Pablo Escobar-branded flamethrowers, phones and more. But it was all a scam, authorities say From 2014 to 2017, prosecutors say, Fritsch raised more than $20 million from investors for his Santa Monica-based tech company StarClub. He claimed the money was to build an application called StarSite that would help celebrities and influencers monetize their fame through sponsored social media advertisements. Prosecutors say he lured investors by telling them that major media companies and a global investment banking firm had already put money into his company, which he asserted had made $15 million in revenue in 2015. He also claimed he was on the verge of closing a commercial deal with Disney. However, none of these statements were true, prosecutors said — nor was his promise to put their money into his tech company. "Instead, Fritsch used much of the investor money to enrich himself and support his luxurious lifestyle, including by purchasing luxury cars such as a McLaren and a Rolls-Royce, fixing up his yacht, and renovating his Malibu mansion, located near Carbon Beach," the Justice Department said in a statement. Read more: California anti-poverty activist accused of defrauding investors out of more than $145 million Prosecutors estimate those caught up in the scheme lost around $25 million. One would-be investor contributed more than $20 million and introduced Fritsch to others who gave millions more, prosecutors said. Law enforcement have seized the yacht and luxury vehicles. In additional to the federal trial, Fritsch has been sued in L.A. County Superior Court three times over allegations of fraudulent financial schemes. Record industry executive Haqq Islam and his company sued StarClub and Fritsch in 2013, claiming breach of contact and fraud. Islam alleged that Fritsch owed him $750,000 for helping get celebrities such as Jessica Simpson to meet with Fritsch and consider participating in StarClub's business ventures, according to reporting by Courthouse News Service. Read more: Southern California men indicted in alleged $22-million crypto fraud case Then in 2017, Eugene McBurney and Bermuda-based hedge fund Harrington Global Opportunities, both of which were investors in StarClub, sued Fritsch on claims of breach of contract and fraud, court records show. This lawsuit alleges that employees of StarClub "obtained over $35 million in cash from investors on the basis of false representations, presenting their social media company as 'the next big thing.'" A trial setting conference for this lawsuit is scheduled for June 25. Fritsch was sued last year by Marc Montgomery, who alleges that Fritsch — his cousin — owes him more than $593,000 in loans and interest that Fritsch used to cover his mortgage, car payments and utilities, according to the complaint. This case is still pending. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Los Angeles Times
05-04-2025
- Business
- Los Angeles Times
He sold investors on a new app, but spent the money on cars, his Malibu mansion and yacht, feds say
A Malibu man has been convicted of fraudulently obtaining an estimated $25 million in investments in his tech company and using the funds to finance a lavish lifestyle that included a Rolls-Royce, mansion by Carbon Beach and yacht, authorities said. After a nine-day trial, Bernhard Eugen Fritsch, 63, was found guilty of one count of wire fraud and faces a sentence of up to 20 years in prison, according to the U.S. Department of Justice. The jury found him not guilty of a second wire fraud count. Fritsch remains free on bond and is set to appear at a sentencing hearing in the coming months. An attorney for him did not immediately respond to a request for comment Friday. From 2014 to 2017, prosecutors say, Fritsch raised more than $20 million from investors for his Santa Monica-based tech company StarClub. He claimed the money was to build an application called StarSite that would help celebrities and influencers monetize their fame through sponsored social media advertisements. Prosecutors say he lured investors by telling them that major media companies and a global investment banking firm had already put money into his company, which he asserted had made $15 million in revenue in 2015. He also claimed he was on the verge of closing a commercial deal with Disney. However, none of these statements were true, prosecutors said — nor was his promise to put their money into his tech company. 'Instead, Fritsch used much of the investor money to enrich himself and support his luxurious lifestyle, including by purchasing luxury cars such as a McLaren and a Rolls-Royce, fixing up his yacht, and renovating his Malibu mansion, located near Carbon Beach,' the Justice Department said in a statement. Prosecutors estimate those caught up in the scheme lost around $25 million. One would-be investor contributed more than $20 million and introduced Fritsch to others who gave millions more, prosecutors said. Law enforcement have seized the yacht and luxury vehicles. In additional to the federal trial, Fritsch has been sued in L.A. County Superior Court three times over allegations of fraudulent financial schemes. Record industry executive Haqq Islam and his company sued StarClub and Fritsch in 2013, claiming breach of contact and fraud. Islam alleged that Fritsch owed him $750,000 for helping get celebrities such as Jessica Simpson to meet with Fritsch and consider participating in StarClub's business ventures, according to reporting by Courthouse News Service. Then in 2017, Eugene McBurney and Bermuda-based hedge fund Harrington Global Opportunities, both of which were investors in StarClub, sued Fritsch on claims of breach of contract and fraud, court records show. This lawsuit alleges that employees of StarClub 'obtained over $35 million in cash from investors on the basis of false representations, presenting their social media company as 'the next big thing.'' A trial setting conference for this lawsuit is scheduled for June 25. Fritsch was sued last year by Marc Montgomery, who alleges that Fritsch — his cousin — owes him more than $593,000 in loans and interest that Fritsch used to cover his mortgage, car payments and utilities, according to the complaint. This case is still pending.
Yahoo
05-04-2025
- Sport
- Yahoo
Demons respond to Christian Petracca vision as 'dangerous act' sparks AFL uproar
Debate has kicked off around the AFL world over a 'dangerous act' from Melbourne's Bayley Fritsch in Friday night's loss to Geelong that's landed the Demons star in hot water. And Melbourne coach Simon Goodwin says he understands the alarming post-game reaction of Christian Petracca after the 12.13 (85) to 6.10 (46) defeat to the Cats, with footage showing the Demons superstar cutting a frustrated and angry figure. Fritsch's mid-air hit on Geelong's Tom Stewart proved a major talking point post-game, with the out-of-sorts Melbourne star seen tunnelling into the back of his opponent when he jumped to take a mark. Stewart came down hard on the turf as the contact from Fritsch took out his legs and resulted in an instant free kick for the Cats. Veteran commentator Gerard Whateley labelled it a 'dangerous' act from Fritsch but suggested it was only worthy of a fine. However, he was concerned that it was a growing trend that had crept into the game, following a similar tunnelling incident involving Essendon's Mason Redman that saw him slapped with a $1000 fine, two weeks ago. 'He'll be writing a cheque for that, but we are edging towards a dangerous moment with tunnelling the way it has been in the early stages of this season," Whateley said on Friday night. "The players (and) the league ought to have a real think about this, and think about when this goes horribly wrong, what it's going to end up looking like before it happens.' Speaking about the incident on Saturday afternoon's coverage, Fox Footy's Jay Clark and Jack Riewoldt also took aim at Fritsch, with the former describing it as the type of act that could leave an opponent 'in a wheelchair'. 'It is the most vulnerable position to be in, when you have your legs taken from under you. And you could tell from the reaction of the player, Tom Stewart was filthy, he was filthy about this,' Riewoldt said on Saturday. 'For me, two to three weeks for that - that is so dangerous, and this is the chance for the AFL to get onto something early, before it festers into someone knocking themselves out from coming down on their neck." While Clark added: 'You can end up in a wheelchair, let's be honest. There's a serious neck injury potential there.' "You can end up in a wheelchair!" The Super Saturday panel discuss Bayley Fritsch's tunneling action from Friday night.📺 Watch #AFLSunsCrows on ch.504 or on @kayosports BLOG MATCH CENTRE — Fox Footy (@FOXFOOTY) April 5, 2025 Former Collingwood coach Nathan Buckley took a different view though, suggesting the free kick was suffice and that Fritsch's act was an unintentional moment that can happen in a split second in a footy contest. 'This is a tremendously difficult game to play. It is in the margins, there's increments ... I don't know if that (act) is deliberate,' he said. '(Fritsch) may have seen him late, so to penalise a player in a circumstance like that could be really difficult to hold up, given that there's so many decisions that are being made. We're making it pretty hard for the players.' One of the other major talking points from Melbourne's fourth-straight defeat to start the season was Petracca's extraordinary post-game reaction, with the Demons star almost literally tearing his hair out after the final siren. Petracca's frustrations came after the Demons had more inside-50s than the Cats but used the ball horrendously and finished with just six goals for the match. 🗣️ "You can see the despair from Christian Petracca. "That image right there says a lot about where Melbourne is right now, and where it wants to be."#AFLCatsDees — 7AFL (@7AFL) April 4, 2025 Petracca's disenchantment with the Demons was well documented last season, making Friday night's scenes all the more interesting. But Melbourne's coach said it just highlighted how competitive the premiership star was and how desperate he is for the Demons to turn their season around. "He's a winner. He's determined. He's proud," Goodwin said when asked about Petracca, who kicked two goals in an encouraging individual performance. "He's like everyone, he wants to really start to get some positive results and he's a proud leader of our footy club. All our leaders are like that, so of course he's going to be disappointed." Melbourne's performance was an improvement on their previous dismal defeats to North Melbourne and Gold Coast, but it's still their worst start since they lost the first nine matches of the 2012 season. "I thought we saw a spirit tonight. A real determination," Goodwin added. "The message is: stay calm, but get urgent. We've got to work to do, get urgent with that work but stay calm and know things can turn pretty quickly." with AAP
