Hollywood actor arrested for alleged $690m Ponzi scheme | The Citizen

Hollywood actor Zach Avery arrested. Picture: Twitter

American actor Zach Avery was arrested by FBI agents in Los Angeles on Tuesday for allegedly masterminding a Ponzi scheme that defrauded investors of hundreds of millions of dollars, US authorities said. Instead, the 34-year-old operated the company as a Ponzi scheme, using money from new investors to pay older ones, the US Attorney’s Office for the Central District of California said in a statement.

Horwitz, described by the Los Angeles Times as “a small-time actor”, failed to find success as an actor. He starred in the critically panned 2020 film “Last Moment of Clarity”.He allegedly used money from the scheme to fund a lavish lifestyle, which authorities said included trips to Las Vegas, buying a house worth $6 million, and paying a celebrity interior designer.

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