Law enforcement has seized Fritsch's luxury items, including a McLaren, a Rolls-Royce, and a yacht, which are now subject to forfeiture proceedings.

Although Fritsch was acquitted of a second wire fraud count, he remains free on bond pending sentencing.

Bernhard Eugen Fritsch, a 63-year-old from Malibu and founder of StarClub Inc., was convicted of wire fraud for scamming investors and Hollywood stars out of over $20 million.

Authorities estimate that investors lost around $25 million in total, with one investor contributing over $20 million based on Fritsch's misleading claims.

A jury found Fritsch guilty of wire fraud on April 3, 2025, after he misled investors about the financial success of his celebrity app, StarSite.

Fritsch falsely claimed that his technology app would help celebrities monetize brand endorsements, raising over $20 million by making fraudulent statements about StarClub's financial performance.

Instead of developing the app, Fritsch diverted investor funds to finance a lavish lifestyle, purchasing luxury vehicles, a yacht, and a multimillion-dollar mansion in Malibu.

Fritsch faces a sentencing hearing in the coming months, where he could receive up to 20 years in federal prison.

In addition to his criminal charges, Fritsch's cousin, Marc Montgomery, is suing him for over $593,000, alleging that the money was misappropriated for personal expenses.

High-profile celebrities, including Tyrese Gibson and Enrique Iglesias, were reportedly involved in Fritsch's fraudulent scheme, with Tyrese hosting a private party for StarClub in 2014.

Fritsch has faced multiple lawsuits in Los Angeles County Superior Court related to allegations of fraudulent financial schemes, including a breach of contract suit from music executive Haqq Islam.