Miko Dion Wady is a self proclaimed concert promoter who has stolen millions of dollars from investors over the past five years. Miko Wady seduces his victims to invest money in his company Dezert Heat Entertainment by creating an aura of legitimacy to build investor confidence.
After Miko Wady develops a relationship of trust with his investors he steals them blind and then spends their money on expensive vacations, high end cars/toys and lavish homes for him and his family. It is not uncommon for Miko Wady to be seen wearing jewelry worth as much as $100,000.
Dont be fooled by the bling bling. His cars and valuables are the result of duping investors out of millions through his sophisticated Ponzi scheme. Basically, he takes money from one group of investors to pay off money he owes to a different group of investors. He will claim the money he is using to pay you off is from legitimate ticket sales from the concerts he promotes. Nothing could be further from the truth; he is just circulating the money to keep his investors happy while stealing millions for himself.
How does Miko Wady develop an aura of legitimacy around his empty concert promotion business? First, Miko Wady invites you to attend concerts that he is supposedly promoting. As an investor it is very impressive to see an arena filled with over 18,000 screaming fans while Miko Wady is giving you a tour backstage acting like he owns the place. Second, Miko Wady introduces you to his industry contacts: music artists, talent agents, ticket brokers etc. Third, Miko Wady produces contracts that are supposedly between Dezert Heat and top entertainers.
What Miko Wady fails to tell you is that he or his wife have forged the contracts and that they are completely false. Fourth, Miko Wady will produce copies of cashiers checks that he says he used to pay for show expenses. Again, what Miko Wady fails to tell his investors is that he returns to the bank and re-deposits the cashiers check so he can steal the money from his investors. Through this process he creates an aura of legitimacy and sadly many trusting people have bought into it.
Miko Wady has not just stolen money from a few investors through his Ponzi scheme. He has duped many well know families in the Phoenix area, namely the Earnhardt family (who owns and operates the Earnhardt dealerships), the Heap family (the brother and parents of Todd Heap who plays football for the Baltimore Ravens) just to name a few.investors are starting to come out of the wood work now that this scam has been discovered.
The most absurd part is that Miko Wady continues to solicit investors to put money into his scam. If you come across a man with Dezert Heat tattooed across his forearms call legal authorities and report him. Miko Wady has destroyed literally hundreds of lives financially and must be stopped. Miko Wady is currently being investigated by the FBI.
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