San Diego Man Convicted in Investment, Pandemic Loan Fraud Schemes ...Middle East

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San Diego Man Convicted in Investment, Pandemic Loan Fraud Schemes
source : Times of San Diego ( Middle East ) () 73
Photo via Pixabay A San Diego man charged with running an investment fraud scheme and taking millions in ill-gotten pandemic loan funds was convicted by a federal jury this week of more than two dozen securities fraud, bank fraud, and money laundering counts. Denny Bhakta, 42, was first charged with soliciting investments for his companies, Fusion Hotel Management LLC and Fusion Hospitality Corp., then using investors’ funds on personal expenses — such as gambling and purchasing vehicles — and to pay off other investors, according to the U.S. Attorney’s Office. Prosecutors said investors were told Bhakta’s companies would purchase discounted blocks of hotel rooms from Hilton, then

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