The U.S. Securities and Exchange Commission filed a complaint against Fusion Hotel Management and Denny T. Bhakta Tuesday in California Southern District Court for allegedly defrauding investors of $15 million. The complaint accuses Bhakta of engaging in a Ponzi scheme in which he misrepresented to investors that they were putting money into Fusion’s supposed business of buying blocks of hotel room reservations. Attorneys have not yet appeared for the defendants. The case is 3:21-cv-02085, Securities and Exchange Commission v. Fusion Hotel Management LLC et al.
This suit was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
