Hotton pleaded not guilty and was detained in jail, said Robert Nardoza, a spokesman for the U.S. Attorney's Office.
The twice-delayed show, which most recently had planned to begin performances on Oct. 30 at the Broadhurst Theatre, has already spent $6 million in production costs, according to the complaint.
The general partners owe additional money to vendors, including the Shubert Organization, which owns the Broadhurst, according to the complaint. Sprecher would not say how much more is owed. Shubert is also an investor in the show.
Notorious History
The prospects for Sprecher and Forlenza, referred to in the complaint as "Producer-1" and "Producer-2," are not enviable, one Broadway veteran said yesterday.
"Given the notoriety of the production, it's hard to overcome that," said attorney Mark Sendroff, a partner with Sendroff and Baruch, an entertainment law firm.
Hotton worked at Oppenheimer in Jericho, New York, from November 2005 to February 2009, according to a 42-page disciplinary record from the Financial Industry Regulatory Authority.
A third party suggested to Producer-2 that she approach Hotton, who portrayed himself as someone experienced in raising money, according to the complaint.
Hotton seemed passionate about the show, Sprecher said.
"When you talk about something with someone who shares your enthusiasm," he said, "it engenders a certain amount of trust."
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