The demand for tickets for Barack Obama’s Bruce Springsteen/Billy Joel benefit concert is so hot that they’re are being resold for up to $25,000 online. Yet legal experts warn that buying tickets at face value and reselling them at a premium could put scalpers in violation of campaign finance laws.
NY Daily News: Tickets for the Oct. 16 concert, “Change Rocks” at the Hammerstein Ballroom, are being sold on Web sites at prices ranging from $500 to a whopping $25,000.
The buyer and seller may be violating federal campaign finance laws, experts said, because the ticket payment is a direct political contribution to the Obama campaign and the Democratic National Committee.
Kenneth Gross, a lawyer and former enforcement chief at the Federal Election Commission, said corporate scalpers especially could be in legal hot water.
“If they get straw men, say, to buy tickets for them and then reimburse them for those tickets and sell them at a profit, that would certainly raise legal issues,” Gross said. “These tickets are political contributions. They are not commercial transactions.”
“They should urge people not to resell them,” said David Donnelly, director of the nonprofit Campaign Money Watch. “They could also track the tickets, they could keep tabs on who’s buying them and [find] some way to check that at the door.”
The Obama campaign claims it is on the case. (Sorry, McCain.)
Team Obama…is enlisting a company that will track who’s buying tickets and promising to check names at the door…
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.