Home / Entertainment / The actor is accused of running a $ 227 million Ponzi scheme.

The actor is accused of running a $ 227 million Ponzi scheme.



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 1

60 payments to them since 2019, the report said, citing the FBI.

Zachary Horwitz claims his film distribution company has an agreement with Netflix, HBO and its streaming service, according to The Los Angeles Times.
Zachary Horwitz claims his film distribution company has an agreement with Netflix, HBO and its streaming service, according to The Los Angeles Times.
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He was charged with wire fraud. At Tuesday’s trial, Horwitz was released on a $ 1 million bond.


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