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Defense attorney Jonathan J. Einhorn said Bick was taken advantage of by the parents of his friends who were greedy to get in on action, said the News-Times.
Bick, who is free on $250,000 bond, is considering an appeal but plans to wait until after his March 2 sentencing, added the News-Times.
He was found guilty on six counts of wire fraud and one count of money-laundering, was acquitted on two counts of fraud and one of making a false statement to federal law enforcement.
Federal prosectors said Bick ran a Ponzi scheme and defrauded investors in his business out of nearly $500,000.
“Mr. Bick repeatedly lied to victim investors, took their money and used it to take trips with friends, on shopping sprees, to purchase jet skis, and also to pay off previous investors who were promised unrealistic returns,” U.S. Attorney Deirdre Daly said.
Bick is a 2013 graduate of Danbury High School and owns the Tuxedo Junction club in Danbury. Prosecutors said he convinced friends and friends' parents to invest in his business plan to run a nightclub and promote concerts.
When sentenced, he faces a maximum of 20 years in prison on each fraud count and a maximum of 10 years on the money-laundering charge.
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