Link: Ticket reseller sued for illegally buying over 2,000 Taylor Swift tickets

The Federal Trade Commission (FTC) has filed a lawsuit against Key Investment Group, accusing it of using illegal tactics to buy and resell over 379,000 event tickets. This ticket broker allegedly used fake accounts and SIM cards to bypass Ticketmaster's restrictions, buying tickets on a large scale.

Key Investment Group, operating under multiple business names like Epic Seats and Totally Tix, reportedly made $64 million from reselling tickets purchased for $57 million. Their methods included using traditional and virtual credit cards, spoofed IP addresses, and paying people to set up fake accounts.

The company significantly marked up the prices of resold tickets, particularly for high-demand events like Taylor Swift’s Eras Tour. For example, they purchased 2,280 Swift tickets for nearly $745,000 and resold them for about $1.9 million, far exceeding Ticketmaster's ticket limit per event.

The FTC's actions highlight a broader regulatory focus on the practices of live event ticket sellers in the US. This lawsuit is part of an effort to clamp down on unfair and deceptive practices in ticket sales.

In response to the lawsuit, Key Investment Group vehemently denied the FTC’s allegations. They argued that the FTC misinterpreted the BOTS Act, claiming that their ticket purchasing methods were within legal bounds and accusing the FTC of using the law to unjustly target business practices.

The lawsuit underscores ongoing issues within the live event ticketing industry, raising questions about fair access to tickets and the legality of certain resale practices. The case serves as a pivotal moment for both consumer rights and business operations in the entertainment ticketing market. #

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