Actor Zachary Horwitz sentenced to 20 years for running $650 million Ponzi scheme
Fox News
More than 200 investors, including three of Horwitz’s closest college friends and their family members, lost about $230 million, authorities said.
Prosecutors alleged that from 2014 to 2019, the 35-year-old secured hundreds of millions of dollars in loans for his film company, 1inMM Capital LLC, by falsely claiming the money would be used to buy distribution rights to films that would then be licensed for distribution to streaming platforms, such as Netflix and HBO.
More Related News