"The big question may be what happened to the money," said Vida Bottom, Special Agent in Charge for the Honolulu FBI's office.

The questions, the frustration and the public outcry, over a concert deal gone bad was blown wide open by federal agents on Thursday.

The FBI said it all centers on a man named Marc Hubbard, who is a concert promoter from North Carolina.

He was already indicted in October in another case, where he allegedly scammed victims out of $700,000 to promote an Alica Keys concert.

As for the failed Stevie Wonder concert:  "Mr. Hubbard said he had connections with management and Stevie Wonder's inner circle," said U.S. District Attorney Florence Nakakuni.

She said it's a lie that Hubbard told not only UH, but his soon to be associates.

The FBI said he then netted a business contract with UH and a European concert promoter named Helen Williams, as well as 44-year-old Sean Barriero of Epic Talent. That business address turned out to be a mailbox at a strip mall in Florida.

UH eventually wired $200,000 into Barriero's personal account.

FBI agents said that money was quickly dispersed and spent: $120,000 went directly to Hubbard, just over 11-grand went to Willams, and nearly 69-grand went to Barriero.

Agents said Barriero and his girlfriend Sannise Crosby spent the money on everything from rent to a $50,000 Mercedes-Benz SUV.