Actor 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.
Zachary Joseph Horwitz, whose stage name is Zach Avery, plays Sam Pivnic in "Last Moment of Clarity" in 2020Low-budget film actor Zachary Joseph Horwitz was sentenced Monday to 20 years in federal prison after heJudge Mark C. Scarsi of the U.S. District Court in Los Angeles meted out the sentence and added that Horwitz is obligated to pay $230,361,884 he kept from the scheme, the U.S. Attorney's Office in L.A. said.
As his scam was underway in the latter half of the 2010s media giants were racing to stock up on web-based content, gobbling up the rights to titles, many for the emerging foreign market online, in what has been described asFederal prosecutors, who narrowed the case to one count of securities fraud after Horwitz agreed to plead guilty last year, described it as a Ponzi scheme: The actor used his newest investment cash to make promised payments, with interest, to earlier investors.
The actor, who had referred to himself as an entrepreneur, sent a pricey bottle of Johnnie Walker Blue Label blended Scotch whisky alongside copies of his 2015 annual report to some investors, according to the affidavit.
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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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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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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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