Thursday, August 08, 2013
Man Pleads Guilty in Plot to Defraud Broadway Producers
NYTimes.com: A former Long Island stockbroker accused of bilking the producers of a planned Broadway musical production of “Rebecca” pleaded guilty to federal fraud charges on Monday, admitting that he had conjured up fictitious overseas investors and a phantom loan as part of a sham effort to rescue the financially troubled show.
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It is so great that they are finally getting to the end of this case and letting the team focus on raising money so that they can open in 2014 instead of having to refund their investors after already spending money on the production. Lots of people were very excited about this production and to have it pulled out from under the creative team, the producers and the public was unfair of Mr. Hotton. All he gained from this is a prison sentence and causing people to lose money. There really seems to be no point to what he did.
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