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Hollywood actor arrested in a $ 227 million Ponzi scheme.



Zachary J. Horwitz, a young actor, was arrested Tuesday in Los Angeles on federal charges that he was running a massive Ponzi scheme that defrauded investors from $ 227 million, citing a film license agreement that Fictitious based on HBO, Netflix and other platforms.

Horwitz, 34, who previously appeared in a secondary film under stage name Zach Avery, was accused of generating emails from HBO and Netflix executives about a non-existent film distribution deal to try to thwart the demand for payment. Money from investors

In an oath of oath filed with Los Angeles federal court, FBI agent John Werrastro laid out an illogical scheme by Horwitz to persuade investors to pour massive sums of money into the company. Distributed his films, 1

inMM Capital LLC.

Horwitz sent Scottish Johnnie Walker Blue Label along with an annual investor report in 2015 highlighting the “library” of 52 films his company is expected to distribute in Africa. Australia, New Zealand and South America follow Verrastro, which includes the 2012 horror film “The Lords of Salem” and the 1989 action film “Kickboxer” with martial arts star Jean-Claude Van Damm.

In fact, the FBI said Horwitz had no license agreement and it transferred much of the money for personal gain.

Horwitz incorrectly told investors that he had “strategic partnerships” with HBO, Netflix and other platforms to license overseas distribution. Investors have been promised returns of up to 40% within a year.

But since December 2019, Horwitz’s company has defaulted more than 160 payments due to his investors, according to the FBI, the largest investor, Chicago-based JJMT Capital, LLC, owes more than $ 160 million in principal and around 59 million in capital gains. Said the Verrastro dollar.

All told, Horwitz owes investors about $ 227 million in the principal alone, according to the FBI.

FBI agents arrested Horwitz on late charges of fraud on Tuesday morning at his home in Beverlywood.They also searched the house for evidence of securities and mail fraud, money laundering and other crimes, according to the FBI’s credentials. The home was listed for sale on Zillow for $ 6.5 million.

Anthony Pacheco, a lawyer for Horwitz, did not immediately respond to a request for comment.

Horwitz has performed professionally for over a decade. But none of his films are well known. As Zac Avery, he appeared in the 2018 sci-fi thriller “Curvature.” Times review got the headline: “A stylish sci-fi thriller ‘Curvature’ trapped in dimensions. First, “Variety critics say the film” wants a heart pounding and a mind bending at the same time, but a flatline in both departments. “

Horwitz appeared in court on video Tuesday afternoon from a federal cell in downtown Los Angeles.

“Do you understand what the government has accused you of doing?” Asked US Judge Jean P. Rosenbluth.

“Yes, I do,” he replied.

Assistant U.S. Attorney Alexander Schwab urged Rosenbluth to hold Horwitz until sentencing hearing, saying he might escape if released.

“The chances of the defendant having a certain amount of money being withdrawn is quite high,” he said.

Rosenbluth shared the concern, saying: “There is a lot of money cited without citing here”

But she agreed to release Horwitz with a $ 1 million secured bond.




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