Last updated: Monday, July 17, 2006
MAN WHO CONNED MARSALIS SENT TO JAIL
A New Jersey con man who stole money from jazz musician WYNTON MARSALIS was sentenced to 35 months in jail on Friday (14JUL06).
WYNTON MARSALIS
JAY BAILEY took money from Marsalis and his manager ED ARRENDELL as part of an investment plan, then spent the cash on himself.
During a federal court hearing in Newark, New Jersey, Bailey was sentenced to 35 months in prison for taking hundreds of thousands of dollars from Wynton Marsalis Enterprises and Arrendell.
Bailey posed as a real estate developer and took money from investors with the idea that he would use it to buy and renovate homes in poor neighbourhoods and then sell the properties at a profit.
Prosecutors in the case, who described the 40-year-old as "a classic con", said he spent the cash on such things as a 2004 Porsche that costs $160,000 (GBP89,000) and luxury vacations.
Marsalis' Bethesda, Maryland-based company gave Bailey nearly $500,000 (GBP278,000) and Arrendell lost $42,000 (GBP23,000) of his own money.
Arrendell says, "He was just a con man. Just a big liar."
He said Marsalis had never met with Bailey, not was he personally involved in any of the business deals.
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