Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
CENTRAL ISLIP, N.Y. (AP) — A once high-flying stockbroker previously sentenced for conning the producers of Broadway's "Rebecca" will serve 11 more years in federal prison.
Mark Hotton was sentenced Thursday in U.S. District Court on Long Island. He also was ordered to pay $5.75 million in restitution.
He pleaded guilty in July 2013 to conspiring to launder the illicit proceeds of almost two decades of fraudulent activity stemming from his work as a stockbroker.
Prosecutors say from January 1995 to October 2012, Hotton ran securities fraud schemes and mail fraud schemes and committed other crimes.
Hotton previously pleaded guilty in New York City to charges he made false promises that he could raise $4 million from phantom investors of the Broadway play.
He was given a nearly three-year sentence in that case.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
