SEC指控酒店基金虚假募资约8600万美元：宣称拥有11家酒店，实际长期只有一家酒店的优先股权益
美国证券交易委员会（SEC）2026年6月4日向德克萨斯州北区联邦地方法院提起诉讼，指控总部位于德克萨斯州达拉斯市的 Phoenix American Hospitality, LLC 及其总裁 William Lee Nelson 以虚假陈述募资约8,600万美元。以下内容均为 SEC 在起诉状中的指控，案件尚未判决。
SEC 指控，2022年3月至2024年7月，被告以两只酒店主题基金向散户投资者募资：第一只基金募得约5,660万美元、涉及约1,300名投资者，第二只基金募得约2,940万美元、涉及约750名投资者，合计逾2,000人。两只基金均以 Regulation A 豁免发行方式募集。
关于资产的指控是，被告对外宣称第一只基金拥有多达11家酒店；实际上，该基金在2024年1月之前只有2020年9月一笔150万美元、对单家酒店的优先股投资。关于盈利与分红的指控是，被告宣称两只基金均盈利、向投资者派发高达每年12%的利润分红；实际上两只基金均不盈利，分红主要来自返还投资者本金。
SEC 还指控，Nelson 指示一家咨询公司制作并散布含相同不实内容的营销材料。SEC 指控被告违反《证券法》第17(a)条、《交易法》第10(b)条与第10b-5规则。
SEC Charges Hotel Funds With Raising About $86 Million on False Statements: Claimed 11 Hotels While Holding a Preferred Interest in Only One
The U.S. Securities and Exchange Commission (SEC) filed suit on June 4, 2026, in the U.S. District Court for the Northern District of Texas, charging Phoenix American Hospitality, LLC, based in Dallas, Texas, and its president William Lee Nelson with raising about $86 million through false statements. The following are allegations in the SEC complaint; the case has not been decided.
The SEC alleges that from March 2022 through July 2024 the defendants raised money from retail investors through two hotel-focused funds: about $56.6 million from about 1,300 investors in the first fund and about $29.4 million from about 750 investors in the second fund, more than 2,000 investors in total. Both funds were offered under the Regulation A exemption.
On assets, the SEC alleges the defendants claimed the first fund owned as many as 11 hotels, when in reality, before January 2024, the fund held only a $1.5 million preferred equity investment made in September 2020 in a single hotel. On profitability and distributions, the SEC alleges the defendants claimed both funds were profitable and paid profit distributions of up to 12 percent a year, when neither fund was profitable and the distributions were primarily funded by returns of investor capital.
The SEC further alleges that Nelson directed a consulting firm to create and disseminate marketing materials containing the same untrue statements. The defendants are charged with violating Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
来源：美国证券交易委员会
发布：GSM·美国（发布链接）
图片来源：图：位于美国德克萨斯州达拉斯市的城市天际线黄昏景（资料照片），被告公司主营业地在达拉斯。Matthew T Rader 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: The Dallas, Texas, skyline at dusk (file photo); the defendant company is based in Dallas. Photo by Matthew T Rader, CC BY-SA 4.0, via Wikimedia Commons.
GSM Global · 本篇英文版 English edition of this story
