July 7, 2023
By Charlie Innis (December 15, 2021, 5:58 PM EST) — The U.S. Securities and Exchange Commission accused the owner of Fusion Hotel Management of conning investors with fake balance sheets and using fraudulently raised money to gamble at casinos in an alleged $15 million Ponzi scheme.

The SEC on Tuesday hit Denny T. Bhakta and two California-based entities he founded and controlled — Fusion Hotel Management LLC and Fusion Hospitality Corp. — with an enforcement action alleging securities fraud, according to the suit filed in California federal court.

The federal agency claims Bhakta lied to more than 40 investors by telling them they were backing his business of buying blocks of…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *