Federal government alleges actor’s $ 690 million ponzi scheme lied about selling movies to Netflix

Not everyone can be like Rian Johnson and Daniel Craig, who would have could earn up to $ 100 million each in their deal with Netflix for two Knives Out sequels, but maybe you could tell people that you made it according to the FBI and SECOND, that’s what Zachary Horwitz allegedly did, as part of a Ponzi scheme that the SEC claims to have raised over $ 690 million.

Described as a small actor by the LA Times and listed as Zach Avery on his IMDB profileHorwitz 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 had no business relationship with 1nMM, and the FBI said the licensing and distribution agreements presented to investors were bogus, with forged signatures. He claimed their investments were safe and, according to the affidavit filed by the FBI, he told investors “that we receive confirmation from each of our exits indicating their desire to acquire the rights to any security we purchase BEFORE. to release funds for the film “.

With these false documents, they allege that Horwitz started receiving funds in 2015, ultimately using the victim’s money to pay off previous investors and buy himself a $ 6 million house. The SEC says it accused Horwitz and 1nMM of violating anti-fraud laws, while freezing its assets. The FBI announced the arrest of Horwitz, citing $ 227 million from investors transferred to the company since the end of 2018 that Horwitz allegedly defaulted on and accusing him of wire fraud, carrying a maximum sentence of 20 years in prison. According to LA Times, he was released on a guaranteed bond of $ 1 million.

On the plus side, once this is all over, Horwitz might have a story that Netflix is ​​interested in buying after the release of the Documentary Anna Delvey / Anna Sorokin.

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