Home / Entertainment / Actor Zachary Horwitz arrested for $ 690 million in Hollywood Ponzi scheme.

Actor Zachary Horwitz arrested for $ 690 million in Hollywood Ponzi scheme.



WASHINGTON – The Los Angeles actor is the mastermind of a $ 690 million Ponzi scheme that brings together investors who think their money will fund distribution of films to be run on HBO and Netflix. According to official information

Zachary Joseph Horwitz, who went by Zach Avery as an actor, was arrested on Monday and charged with wire fraud, according to the Los Angeles attorney’s office. The Securities and Exchange Commission also sued Horwitz and his firm 1inMM Capital LLC in civil court over alleged scams it said involved a complex scheme to justify efforts to sell its licensing rights. Movies, especially in the Latin American market.

Mr.Horwitz’s LinkedIn profile indicates he is a managing partner of 1inMM.He did not respond to a request for comment submitted through LinkedIn, court records Wednesday did not list an attorney for him.

The 34-year-old actor has a profile in IMDb, an online movie database where he is credited for roles in a number of low-budget films. His most recent work is an unreleased, higher-profile film called “Gateway,” starring Olivia Munn and Frank Grillo Grindstone Entertainment. Which is a special label for the Hollywood studio Lions Gate Entertainment Corp.

Netflix declined to comment.HBO and Lions Gate did not immediately respond to a request for comment.


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