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Oro Valley business owner indicted for alleged fraud scheme

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gavel generic(WAVE 3 News)
Published: Apr. 29, 2021 at 3:02 PM MST
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TUCSON, Ariz. (KOLD News 13) - An Oro Valley businessman faces federal fraud charges for an alleged scheme that lost his investors hundreds of thousands of dollars.

Frederick Stahmer, 54, was indicted on four counts of wire fraud, according to a news release from the FBI. This indictment also includes a forfeiture allegation.

The indictment states Stahmer received thousands of dollars from investors in his Oro Valley music promotion business called Frederick Entertainment, Inc. Stahmer’s investors lost over $1 million in his alleged scheme, according to the news release.

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