Broadway Financer Arrested for Fraud

    Elizabeth Williams / AP Photo

    A stockbroker was arrested on Monday for defrauding the producers of the upcoming Broadway show Rebecca: The Musical by allegedly concocting an elaborate scheme that federal agents called “stranger than fiction.” The stockbroker, Mark Hotton of West Islip, N.Y., allegedly collected $60,000 for the musical but never actually gave any of it to the show, resulting in a production shutdown on Sept. 30. Hotton is charged with faking loans and coming up with phantom investors—including a phony investor that he killed off in August after he could not come up with $2 million he said the investor would give the show. Hotton reportedly stashed the money from his alleged schemes in the Cayman Islands. He is being held without bail.

    Read it at The New York Times