The 35-year-old, who stars in 2020 s Last Moment of Clarity , is also ordered to pay $230,361,884 in restitution to his victims after pleading guilty to one count of securities fraud in the fall of 2021.
Zachary Joseph Horwitz pleaded guilty Monday to running a massive Ponzi scheme that raised at least $650 million from investors in phony Hollywood film licensing deals since 2014, according to prosecutors
Actor who duped investors into paying $650 million for fake HBO and Netflix deals admits guilt dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
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LOS ANGELES, April 22, 2021 /PRNewswire/ In the wake of a $690 million Ponzi Scheme engineered by actor Zachary J. Horwitz against investors nationwide, Miami-based law firm Levine Kellogg Lehman Schneider + Grossman (LKLSG) filed a class action complaint on April 20, 2021, against Horwitz, his company 1inMM LLC and their bank, City National Bank.
The lawsuit was brought on behalf of four investors who allege that Horwitz offered promissory notes with guaranteed returns of between 35% and 45%, telling investors that he would use the proceeds from the notes to acquire movie distribution rights and license them to media companies for a profit.
Ponzi Scheme Investigation: 1inMM Capital, LLC Investors Who Have Suffered Investment Losses Encouraged To Contact Kehoe Law Firm, P.C. benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.