Actor accused of operating $227 million Ponzi scheme

A very little-acknowledged Los Angeles-dependent actor was reportedly arrested by the FBI on Tuesday for allegedly functioning an great Ponzi plan in which he duped investors by lying about the results of his movie distribution corporation.

Zachary Horwitz, 34, who has had roles in smaller films below the name Zach Avery, is accused of cheating investors out of $227 million and employing most of the cash for himself, the Los Angeles Instances documented, citing federal authorities.

Horwitz allegedly enticed the traders by falsely saying his corporation, 1inMM Money LLC, experienced film licensing deals with Netflix, HBO and other platforms, the newspaper claimed.

He also explained to buyers his organization distributed 52 films in South The usa, Africa and Australia, according to court docket records acquired by the paper, and gifted his funders bottles of pricey Johnny Walker Blue Label scotch.

Zachary Horwitz is accused of cheating investors out of $227 million with false claims about his film distribution company.
Zachary Horwitz is accused of dishonest traders out of $227 million with wrong claims about his film distribution enterprise.
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The actor owes buyers around $227 million — defaulting on 160 payments to them given that 2019, the report claimed, citing the FBI.

Zachary Horwitz falsely claimed his film distribution company had deals with Netflix, HBO and streaming services, according to The Los Angeles Times.
Zachary Horwitz falsely claimed his movie distribution company had offers with Netflix, HBO and streaming products and services, in accordance to the Los Angeles Instances.
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He is charged with wire fraud. At his Tuesday arraignment, Horwitz was unveiled on $1 million bond.