Hotels criticized for taking virus money face investigation

Texas

FILE – This Saturday, Aug. 5, 2017, file photo shows the U.S. Securities and Exchange Commission building in Washington. Securities regulators are investigating three hotel companies, Wednesday, Aug. 5, 2020, that returned tens of millions in federal virus-relief money for transactions going back to 2018. The companies controlled by Dallas hotelier Monty Bennett came under scrutiny after taking tens of millions of dollars from a fund designed to help small businesses survive the pandemic. (AP Andrew Harnik, File)

DALLAS (AP) — Securities regulators are investigating three hotel companies that returned tens of millions in federal virus-relief money for transactions going back to 2018.

The companies controlled by Dallas hotelier Monty Bennett came under scrutiny after taking tens of millions of dollars from a fund designed to help small businesses survive the pandemic.

The companies disclosed in a filing this week that they have received subpoenas from the Securities and Exchange Commission for related-party transactions going back long before the pandemic hit. 

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