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Aspiring actor Zachary Horwitz was indicted Tuesday for allegedly masterminding a $690 million Hollywood Ponzi scheme, the
Los Angeles Times reports.
Horwitz, 34, who went by the name Zach Avery in such films as 2021’s
The Devil Below and 2017’s
Curvature, was charged by a federal grand jury with multiple counts, including securities fraud, wire fraud, and identity theft.
From 2014 to 2019, Horwitz secured $690 million in loans to his film company, 1inMM Capital, by showing investors numerous fictitious documents to substantiate his claimed deals with HBO and Netflix, including numerous fake movie distribution agreements, prosecutors said.
More than 200 investors, including three of Horwitz’s closest college friends and their family members, lost roughly $230 million, the
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