October 21, 2014
NEW YORK (AP) - A former stockbroker has pleaded guilty to charges he conned the Broadway producers of a failed production of "Rebecca."
Mark Hotton entered the plea on Monday in federal court in Manhattan.
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 asked for tens of thousands of dollars in fees and commissions in return.
Hotton also pleaded guilty to separate charges he defrauded a Connecticut real estate company of more than $700,000.
He's likely to get up to 3 1/2 years in prison at sentencing on Nov. 1.
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