Page 24 - White Crow News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Michael Bamidele 07 April 2021   |   10:32 am Zach Avery | Image: Metalwork/GEM/Lionsgate/Kobal/Shutterstock American actor Zach Avery was arrested by FBI agents in Los Angeles on Tuesday for allegedly masterminding a Ponzi scheme that defrauded investors of hundreds of millions of dollars. x Avery, whose real name is Zachary J. Horwitz, told investors his company 1inMM Capital would buy film distribution rights and license them to Netflix and HBO but in fact had “no business relationship with either company”, according to the...

Actor Zach Avery Arrested for Allegedly Running Multi-Million Dollar Hollywood Movie Ponzi Scheme People 5 hrs ago © Provided by People Lionsgate//Shutterstock Actor Zachary J. Horwitz, best known under his stage name Zach Avery, was arrested Tuesday in Los Angeles in connection with a massive Hollywood Ponzi scheme, which federal authorities allege defrauded investors out of more than $227 million. Avery is accused of fabricating licensing deals with Netflix, HBO, as well as other platforms, in order to secure funding for his film distribution company, 1inMM Capital LLC, according to th...

Getty Images The U.S. Securities and Exchange Commission obtained an asset freeze to halt an alleged $690 million Ponzi scheme operated by a Los Angeles actor who lied about having deals to sell films to Netflix and HBO. Zachary Horwitz and his company, 1inMM Capital LLC, claimed he was raising money to buy movies that he intended to resell, the SEC said in a Tuesday statement. In reality, he had no business relationship with either Netflix or HBO and relied on fabricated contracts and fake emails to swindle investors, according to the regulator. The U.S. Justice Departme...

Who Is Zach Avery? Meet The Actor Arrested In Multi-Million Dollar Ponzi Scheme By Danielle Taylor 04/07/21 AT 10:47 AM Actor Zachary J. Horwitz, better known as Zach Avery, has been arrested for allegedly embezzling money for personal benefit as part of a multi-million dollar Ponzi scheme. Horwitz was arrested Tuesday in Los Angeles in connection to a hefty Hollywood Ponzi scheme, in which national authorities claim that he swindled investors out of more than $227 million, People reports.  The 34-year-old actor, whose credits include roles in “The White Crow," “Last Moment of...

He and his company promised 35% returns by reselling film rights to Netflix and HBO The US Securities and Exchange Commission (SEC) obtained an asset freezing order during an emergency enforcement action against Los Angeles-based actor Zachary Horwitz and his company 1inMM Capital. The regulator alleges that Horwitz and his firm ran a Ponzi scheme which raised more than $690m (£500m, €580m) by telling investors they were buying film rights to then resell them to Netflix and HBO. But 1inMM had no business relationship with either company, the SEC added. According to the watchdog’s complai...