Federal authorities on Tuesday arrested a Los Angeles film and television actor accused of running a $227 million Ponzi scheme that promised non-existent film rights to investors.
He also"provided investors with fake license agreements, as well as fake distribution agreements with Netflix and HBO, all of which contained forged or fictional signatures," prosecutors said. Investors started to complain when 1inMM Capital began defaulting on notes in 2019, according to the criminal complaint.
Netflix and HBO have denied that their companies engaged in any business with Horwitz or 1inMM Capital, according to the affidavit.
This would make a good story for an hbo or netflix docu series :)
Good thing he didn't pass a bogus $20 bill.
Really, i wonder if harry and nutmeg are in on this...just asking.
Looks like Zach will immerse himself into researching his next prison movie.
WOW 😳 probably hurt a lot of investors
Nice!
Ok, what I don't get is if you did something like this, you'd HAVE to know that eventually it was going to collapse, so why wouldn't you have an exit strategy ready to go? You know, a fake identity, disguises, property under another name in another country, etc.
How the law works. You can rip off and Ponzi scheme the average America but if you do it to a rich elite you go to jail and get charged. Amway is a ponzi scheme but has never been put to jail.
Enjoy prison. Was the $ worth it?
Very on brand for producers.
Yikes
So, the Producers, but not funny.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: latimes - 🏆 11. / 82 Read more »
Source: enews - 🏆 466. / 52 Read more »
Source: latimes - 🏆 11. / 82 Read more »
Source: DEADLINE - 🏆 109. / 63 Read more »