CENTRAL ISLIP, N.Y. (AP) — A former stockbroker who has already admitted conning the Broadway producers of a failed production of "Rebecca," has pleaded guilty to separate charges on Long Island.
Federal prosecutors say Mark Hotton pleaded guilty Tuesday to conspiring to launder the illicit proceeds of almost two decades of fraud from his work as a stockbroker. He agreed to forfeit $1.8 million and pay up to $5.75 million in restitution to his fraud victims.
Hotton pleaded guilty to fraud charges in the Broadway scheme Monday in Manhattan federal court.
Prosecutors had accused Hotton of making false promises that he could raise $4 million from phantom investors to save the adaptation of the psychological thriller.
Hotton also pleaded guilty to separate charges he defrauded a Connecticut real estate company of more than $700,000.