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Actor Zachary Horwitz Arrested For Film Rights Ponzi Scheme

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deadline.com
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On Tuesday, actor Zachary Horwitz (known professionally as Zach Avery) was arrested on charges of wire fraud, as reported by the Los Angeles Times.The FBI and SEC allege that Horwitz ran a Ponzi scheme through his company, 1inMM, which defrauded investors of $227 million.Allegedly, Horwitz told investors that his company invested in film rights, subsequently reselling these rights to distributors like Netflix and HBO.

He is said to have sold people on his scheme by showing them fake licensing and distribution agreements, featuring forged signatures.

Ultimately, however, both of the above companies confirmed to the FBI that they’d never conducted business with 1nMM.It is believed that Horwitz began receiving funds as part of the Ponzi scheme

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