Hollywood has always held a fascination with con men and women. There have been many movies dedicated to charismatic characters who actually have nothing t
By City News Service
May 14, 2021
LOS ANGELES (CNS) - A sometime actor who lives in Beverlywood pleaded not guilty today to federal charges that he operated a $230 million Ponzi scheme based on false claims that investor money would be used to acquire licensing rights to films that HBO and Netflix had agreed to distribute overseas.
Zachary Horwitz, 34, who is credited as “Zach Avery” when acting in films, was charged by a federal grand jury with multiple counts of securities fraud, wire fraud and aggravated identity theft, according to the U.S. Attorney s Office.
Trial was set for June 29, but that date is expected to change. Horwitz was arrested April 6 and initially held on a $1 million bond before his release.
By City News Service
May 13, 2021
LOS ANGELES (CNS) - A Beverlywood man is set to be arraigned today for allegedly operating a $230 million Ponzi scheme based on false claims that investor money would be used to acquire licensing rights to films that HBO and Netflix had agreed to distribute overseas.
Zachary Horwitz, 34, who used the screen name “Zach Avery” when acting in usually obscure films, was charged by a federal grand jury with multiple counts of securities fraud, wire fraud and aggravated identity theft, according to the U.S. Attorney s Office.
Horwitz was arrested April 6 and initially held on a $1 million bond before his release.
A Beverlywood man was indicted today for allegedly operating a $230 million Ponzi scheme based on false claims that investor money would be used to acquire licensing rights to films that HBO and Netflix had agreed to distribute overseas.
Print
Aspiring film actor Zachary Horwitz was indicted Tuesday for running what federal investigators describe as one of the most daring Ponzi schemes in Hollywood history.
Horwitz, who appeared in horror and science-fiction movies under the screen name Zach Avery, was charged by a federal grand jury with five counts of securities fraud, six counts of wire fraud and two counts of aggravated identity theft. From 2014 to 2019, prosecutors say, he lied to investors to secure $690 million in loans to his film company, 1inMM Capital.
Horwitz was arrested April 6 on an initial fraud charge and spent more than two weeks in jail before his release on a $1-million bond.