Scam cost Oppenheimer $3.75m

$1 bill Cut by Scissors

The case of Broadway scammer Mark Hotton is getting an encore — before regulators.

The New York Post reports that the Financial Industry Regulatory Authority fined Oppenheimer $3.75m for failing to supervise the disgraced ex-broker even after he was accused of other frauds.

Despite 'red flags', Oppenheimer did nothing to stop Hotton from transferring nearly $3m of client funds to accounts he controlled, Finra said Tuesday.

Hotton, 48, was sentenced to 34 months in prison in October for ruining a planned Broadway production of 'Rebecca', the 1938 psychological thriller by Daphne du Maurier. 

To access the complete New York Post article hit the link below:

Broadway ‘scammer’ costs Oppenheimer & Co. $3.75M penalty

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