An LA actor who conned investors out of $230 million by telling them he had connections to major film and streaming distributors was sentenced to federal prison.
An LA actor who orchestrated an elaborate Ponzi scheme that raised $650 million in bogus licensing deals with HBO and Netflix was sentenced to 20 years in federal prison.
Some of his splurges include $700,000 for a celebrity interior designer to remodel his $5.7 million home in Beverlywood, Calif. with five counts of securities fraud, six counts of wire fraud and two counts of aggravated identity theft.
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Actor who bilked film investors out of $650 million gets 20 yearsActor Zachary Joseph Horwitz has been sentenced to 20 years in federal prison after he pleaded guilty to scamming investors out of an estimated $650,000,000.
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Hollywood actor sentenced to 20 years for multimillion-dollar Ponzi schemeZachary Horwitz, a small-time actor who admitted to operating a multimillion-dollar Ponzi scheme, was sentenced to 20 years in federal prison on Monday.
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Actor who faked movie deals will be sentenced in massive Ponzi schemeFilm actor Zachary Horwitz faces up to 20 years in prison after admitting he faked HBO and Netflix film deals in a $650-million Ponzi scheme.
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Aspiring Actor Gets 20 Years for $650M Netflix and HBO Deal ScamAn aspiring actor was sentenced to 20 years in federal prison Monday for running a massive Ponzi scheme that raised at least $650 million from investors in phony Hollywood film licensing deals.
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Aspiring Actor Zachary Horwitz Gets 20 Years for $650M Movie Deal ScamMore than 200 investors, including three of Horwitz’s closest college friends and their family members, lost about $230 million, authorities said.
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