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AN ASPIRING Los Angeles actor reportedly got away with a $227 million ponzi scheme, duping investors by telling them of his successful film distribution company.
The FBI nabbed Zachary Horwitz, 34, an actor with a handful of roles under the name Zach Avery, for cheating investors out of hundreds of millions of dollars and using most of the funds for himself.
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Actor Zach Avery was arrested by the FBI for allegedly running a Ponzi schemeCredit: Splash
Horwitz would allegedly tell investors his company, 1inMM Capital LLC, had a licensing deal with Netflix, HBO and other companies.
On top of those claims, he told them his company distributed 52 films in South Africa, South America and Australia.
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.
Hollywood Actor Arrested in Alleged $227M Ponzi Scheme
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According to reports, little-known actor Zachary Horwitz is accused of operating a $227 million Ponzi scheme.
The FBI arrested the actor on Tuesday for fooling investors into believing his film distribution company was more successful than it actually was. Horwitz, who landed small film roles under the name Zach Avery, lied to investors by telling them his company, 1inMM Capital LLC, had film licensing deals with Netflix and HBO.
Court documents show Horwitz told investors he had 52 films distributed around the globe. As a gift for investing, Horwitz gifted funders with expensive bottles of Johnny Walker Blue Label scotch.