West Islip man accused in Broadway investment scheme

WEST ISLIP - A Broadway musical that should have been up and running this month has abruptly folded and the show's producer is blaming a Suffolk man for the collapse. The $12 million production of the musical "Rebecca" was canceled over an alleged elaborate fraud. The show's producer claims Mark Hotton, of West Islip, promised large sums of money from investors that apparently never existed. The producer is taking legal action against Hotton.News 12 Long Island has learned that Hotton is also embroiled in lawsuits with several of his neighbors, and with his childhood friend Ricky Valenti. Valenti says that he and Hotton formed a real estate firm together about a decade ago, until he caught on to Hotton's alleged "con artist" ways.Valenti says Hotton lied to him about how much various properties were being sold for. Valenti filed a suit against his former friend that accuses Hotton of a Ponzi scheme. Valenti says he's not surprised to hear that Hotton caused the financial collapse of the Broadway show.News 12 Long Island went to Hotton's multimillion-dollar home, but was told he wasn't there.

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