Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The Feds claim that the actor’s Ponzi scheme of $ 690 million lied about selling movies to Netflix

The Feds claim that the actor’s Ponzi scheme of $ 690 million lied about selling movies to Netflix

Not everyone can be like Rian Johnson and Daniel Craig, who reportedly could earn up to $ 100 million each in their deal with Netflix for two Knives Out sequels, but maybe you could just tell people you did. According to the FBI and the SEC, this is what Zachary Horwitz allegedly did as part of a Ponzi scheme that the SEC claims over $ 690 million.

Described as a minor actor of LA Times and listed as Zach Avery on his IMDB profile, Horwitz apparently told investors that his company 1inMM (one in a million) was involved in buying movie rights and reselling them to HBO and Netflix. However, representatives of both companies told the FBI that they have no business relationship with 1nMM, and the FBI says licensing and distribution agreements shown to investors were fake, complete with fake signatures. He claimed that their investments were safe, and according to the FBI̵

7;s statement, he told investors, “we receive a confirmation from each of our outputs indicating their desire to acquire the rights to any title we purchase IN ADVANCE, in order to release funds to the movie.”

With the fake documents, they claim that Horwitz began receiving funds in 2015 and eventually used the victim’s money to repay former investors and buy a $ 6 million house. The SEC says it has accused Horwitz and 1nMM of violating laws while freezing his assets. The FBI announced Horwitz’s arrest, citing $ 227 million transferred to the company since the end of 2018, which Horwitz has allegedly defaulted on and accused him of wire fraud, resulting in a maximum penalty of up to 20 years in prison. According to LA Timeshe was released on a $ 1 million secured bond.

On the plus side, when it’s all over, Horwitz may have a story that Netflix is ‚Äč‚Äčinterested in buying after it releases the Anna Delvey / Anna Sorokin documentary.

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