Hollywood Actor Zach Avery Arrested for Allegedly Running $227 Million Ponzi Scheme
Celebrity
The L.A.-based actor is accused of fabricating licensing deals with Netflix, HBO and other platforms to secure funding for his film distribution company, 1inMM Capital LLC. Apr 7, 2021
AceShowbiz -
Actor Zachary J. Horwitz, who is known professionally as
Zach Avery, has been arrested on charges of wire fraud. The Los Angeles-based actor was arrested by the FBI on Tuesday, April 6 for allegedly running a multi-million Ponzi scheme.
According to the FBI, Horwitz defrauded investors of $227 million by fabricating licensing deals with Netflix, HBO and other platforms in order to secure funding for his film distribution company, 1inMM Capital LLC. He allegedly sold people on his scheme by showing them fake licensing and distribution agreements, featuring forged signatures.