The famous Los Angeles-based actor was reportedly arrested by the FBI on Tuesday for allegedly running a massive Ponzi scheme in which he lured investors by lying about his success. His film distribution company
Zachary Horwitz, 34, who played a role in a small movie under the name Zach Avery, is accused of defrauding investors with $ 227 million and spending most of the money for himself, The Los Angeles Times reported, citing federal agencies.
Horwitz is accused of luring investors by impersonating his company, 1inMM Capital LLC, having movie copyright agreements with Netflix, HBO and other platforms, the newspaper reported.
He also told investors that his company distributed 52 films in South America, Africa and Australia, according to court records obtained by the paper, and gave the Blue Label Scott Johnnie Walker. Expensive to his supporters
The actors owe about $ 227 million to investors, having defaulted 160 payments to them since 2019, the report said, citing the FBI.
He was charged with wire fraud. At Tuesday’s trial, Horwitz was released on a $ 1 million bond.