, has been arrested for allegedly running a multi-million dollar Ponzi scheme disguised as an investment to acquire licensing rights to films for distribution abroad.
Horwitz, 34, was arrested by special agents with the FBI on Tuesday, April 6 and charged with wire fraud, the U.S. Attorney's Office for the Central District of California confirmed in a.
Instead, Horwitz has allegedly defaulted on $227 million worth of promissory notes transferred by private investment firms to his 1inMM Capital since late 2018, according to the press release, citing the affidavit. He has also been accused of allegedly using some of the money to purchase his $6 million home.
In 2019, Horwitz allegedly started defaulting on promissory notes entered into with investment firms, spurring complaints. In return, the actor allegedly provided investors fake correspondence with Netflix and HBO as an excuse, according to the release, per the affidavit.Horwitz's bond was set at $1 million on Tuesday, though it's unclear if he has been released from custody. He is scheduled to be arraigned on May 13.
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