Thousands of Taylor Swift tickets illegally resold by broker, FTC alleges
Summary
The Federal Trade Commission (FTC) is suing Key Investment Group, a Maryland ticket broker, for illegally buying and reselling hundreds of thousands of tickets, including thousands for Taylor Swift’s Eras Tour. The FTC says the company made millions by breaking rules designed to limit ticket purchases and reselling them at high prices.Key Facts
- The FTC filed the lawsuit on August 18 in a Maryland federal court.
- Key Investment Group bought about 380,000 tickets from Ticketmaster in one year, paying $57 million.
- The company then resold these tickets for around $64 million.
- They used many fake and third-party accounts, thousands of credit card numbers, and technology tricks to bypass Ticketmaster’s purchase limits.
- For Taylor Swift’s Eras Tour, the group bought over 2,200 tickets to 38 concerts, making about $1.2 million in profit.
- The Eras Tour had a six-ticket limit per buyer per event, but the group used up to 49 accounts to buy hundreds of tickets for one show.
- The FTC says this action violated laws that ban bypassing security to break ticket limits.
- Key Investment Group denies wrongdoing and calls the FTC’s case regulatory overreach.
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