In a real scheme that could easily constitute the plot of a networking lawsuit or streaming of restricted series, HBO and Netflix helped the federations bring a Hollywood wannabe who swindled investors out of hundreds of millions of dollars to court.
Zachary Horwitz, who has gone by the screen name “Zach Avery”, was taken into custody by the FBI yesterday on criminal charges of alleged misappropriation of more than $ 227 million from backers who thought they would make money licensed for WarnerMedia movies. owned cables and the streamer in Latin America.
“In fact, neither HORWITZ nor 1inMM Capital have ever engaged in email correspondence with Netflix or HBO, and HORWITZ or 1inMM Capital have never had any business relationship
with Netflix or HBO at all, ”said a statement from FBI Special Agent John Verrastro on April 5. The devil below actor and his 201
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False as they may be, the high-profile Horwitz scam had run quite successfully for a number of years with few questions asked by his ugly investors. By literally taking finds from Paul to pay Peter, so to speak, Horwitz was able to provide more support and flow the scheme’s promised return of 25% to Chicago-based JJMT Capital, LLC. Over the course of more than five years, the Navy provides the mirage of economic triumph and allowed Horwitz to capture a $ 6 million Beverlywood spread and other bullets.
However, at the end of 2019, 1inMM began defaulting on its debt certificates with time-consuming audit and corporate restructuring requirements at Netflix and HBO.
“In order to extend the scheme and maintain the illusion that 1inMM Capital was a legitimate business in the wake of these growing defaults, HORWITZ erroneously represented to JJMT that the online platforms had refused to pay on time for the distribution rights as committed and provided excuses for being allegedly provided by Netflix and HBO, ”Verrastro’s statement continues.
“To support these allegations, HORWITZ repeatedly sent JJMT emails, forwarding alleged email correspondence with Netflix and HBO employees, respectively, and discussing the underlying licensing agreements,” says the paperwork on the detailed and clearly false ends, Horwitz went to hold the good times rolling.
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Melinda LeMoine, Netflix Director of Content Litigation and WarnerMedia Senior Litigation Administrator Patrick Younan, clearly plays important notes in the statement. Both leaders made signed statements to the FBI about the case and the fact that neither of their organizations had any relationship with Horwitz and 1inMM.
“In fact, on February 12, 2021, Ms. LeMoine sent a letter of termination and termination to HORWITZ both through her LinkedIn account and through her attorney,” the affidavits stated.
“The letter stated that Netflix was informed that HORWITZ and his company 1inMM Capital had used false documents to represent to third parties that 1inMM Capital had licensing agreements with Netflix, but that Netflix did not in fact have such agreements with 1inMM Capital or HORWITZ, The FBI Special Agent’s document says. The letter further stated that HORWITZ has used fabricated emails allegedly exchanged with a Netflix employee to represent others, that he expects to receive money from Netflix, and that these emails are also fake. The letter demands that HORWITZ stop giving false information about his agreements with Netflix. ”
Neither Netflix nor HBO had any comment on the matter today when contacted by Deadline.
On April 6, Horwitz appeared before U.S. District Court to face music from prosecutors Assistant United States Attorneys Alexander Schwab and David Chao of the Major Frauds Section.
With the criminal lawsuit against him now unsealed, the “self-described Hollywood entrepreneur” faces 20 years behind bars if found guilty of wire fraud charges. The presiding judge set Horwitz’s bond at $ 1 million, and he was released late Tuesday after the issue of bringing in that cash was settled.
Right now, there is a case in the court calendar for May 13 in the case.
Who knows, an adaptation of this wild ride may be in development before then.