Actor Zachary Joseph Horwitz has agreed to plead guilty to running a massive Hollywood Ponzi scheme that promised non-existent film rights to investors.
Horwitz will plead guilty to one count of securities fraud, according to a plea agreement filed in the United States District Court for the Central District of California earlier this month.
He is accused of selling hundreds of promissory notes through his company 1inMM Capital LLC, and"fraudulently obtained at least $650 million from at least five major groups of private investors," according to prosecutors, who say the scheme started in 2015. "Defendant’s scheme has caused substantial financial hardship to at least five investors," said the plea agreement.
The actor even provided promotional materials to investors that claimed"1inMM Capital offered 'safe' investments because 'we receive confirmation from each of our outputs indicating their desire to acquire the rights to any title we purchase PRIOR to us releasing funds for the film,'" according to an affidavit.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
'The Wire' actor Michael K. Williams remembered for his compassionMichael K. Williams, best known for playing shotgun toting drug dealer Omar Little in the HBO crime drama “The Wire,” was remembered by his colleagues as an actor with a special talent for humanizing the characters he portrayed, bringing his own experience as a Black man growing in New York to his roles. Williams, who also won praise for his roles in “Boardwalk Empire,” “Bessie” and “Lovecraft Country,” was found dead in his Brooklyn apartment on Monday, the New York Police Department said.
Baca lebih lajut »
'The Flash' actor Logan Williams died of accidental drug overdose, coroner's report saysThe young actor's mother previously said her son, who died in April 2020, had struggled with an addiction to opioids.
Baca lebih lajut »
'The Flash' actor Logan Williams' cause of death confirmed as accidental drug overdoseWilliams' mom Marlyse Williams revealed that her son died of a fentanyl overdose following a three-year battle with opioid addiction.
Baca lebih lajut »
Actor who played Gus in hit My Big Fat Greek Wedding dead aged 94Michael Constantine, who is most famous for his role in My Big Fat Greek Wedding has died at the age of 94 his reps have confirmed
Baca lebih lajut »
Amelia Hamlin's mum Lisa Rinna hopes she'll date actor after Scott Disick splitThe model, 20, called it quits with Scott after their relationship began to unravel following his now public private message to Kourtney Kardashian’s ex, Younes Bendjima
Baca lebih lajut »
Olivia Munn is pregnant! Actor expecting 1st child with John MulaneyJohn Mulaney said he's dating Olivia Munn on “Late Night with Seth Meyers.' They’re expecting their first baby. He was previously married to Anna Marie Tendler.
Baca lebih lajut »