Suit charges fraud by Kansas Hard Rock hotel developer

A federal lawsuit accuses Minnesota developer D. Jon Monson of misleading investors who bought $23 million in municipal bonds for a planned Hard Rock hotel in Kansas City, Kan. The bank serving as trustee for the securities alleges that Monson claimed he had secured a $52 million construction loan when he sold the bonds, but had only $48.8 million in financing and had not closed on that sum.