Who Is Zach Avery? Meet The Actor Arrested In Multi-Million Dollar Ponzi Scheme By Danielle Taylor
04/07/21 AT 10:47 AM
Actor Zachary J. Horwitz, better known as Zach Avery, has been arrested for allegedly embezzling money for personal benefit as part of a multi-million dollar Ponzi scheme.
Horwitz was arrested Tuesday in Los Angeles in connection to a hefty Hollywood Ponzi scheme, in which national authorities claim that he swindled investors out of more than $227 million, People reports.
The 34-year-old actor, whose credits include roles in “The White Crow, “Last Moment of Clarity,” and as an extra in Brad Pitt s 2014 war movie “Fury, has been accused of contriving licensing deals with HBO and Netflix to obtain money for his own film distribution company, 1inMM Capital LLC.
Noted a previous release via ‘We created 1inMM Productions to produce high concept genre films with an edgy and unique approach to storytelling.’ Adding
, ‘Together, we have a shared commitment of cultivating the rise of a new class of auteurs.’
Zachary Horwitz 1inMM Capital LLC fake producer, pictured far right.
Elaborate deception
Horwitz also told investors his company distributed 52 films in South America, Africa and Australia, according to court records, and gifted his funders bottles of pricey Johnny Walker Blue Label scotch.
The actor who effectively played the part of a real life producer would forge signatures from licensing firms on the pretense that deals had been consummated.
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.
Actor Arrested in Alleged $690M Ponzi Scheme
Michael Buckner/PMC
Zachary Horwitz (known as Zach Avery ) allegedly held out fake rights to movies, phony deals with Netflix and HBO, and fabricated correspondence with industry executives to raise money.
Zachary Horwitz is hardly the first individual to face legal trouble after raising money in Hollywood and allegedly pocketing investment funds. But the amount involved more than $690 million! is staggering.
How did he do it?
Horwitz, a 34-year-old actor who has appeared in some minor films under the screen name “Zach Avery, was arrested Tuesday in California and charged with wire fraud. According to the Justice Department, he faces a maximum of 20 years in prison. Separately, the Securities & Exchange Commission reports obtaining an emergency asset freeze after Horwitz and his company, 1inMM Capital, raised hundreds of millions by holding out license rights agreements with Netflix and HBO.