MADRID, Apr 7. (CultureOcio) –
Zach Avery, an actor who has appeared in films such as Fury, The Dancer or Under the Same Skin, has been arrested in Los Angeles after exposing his involvement in a Ponzi scheme that defrauded 227 million dollars to different investors through agreements fictional with HBO, Netflix and other platforms.
According to the Los Angeles Times, the 34-year-old interpreter was Accused of sending fake emails posing as HBO and Netflix executives relating to non-existent film distribution agreements. In an affidavit filed in federal court in Los Angeles, the FBI agent John Verrastro uncovered Avery’s plan, which was intended to persuade investors to invest huge sums of money in his distribution company, 1inMM Capital LLC.
Horwitz sent investors an annual report highlighting a catalog of 52 films that his company supposedly distributed in Africa, Australia, New Zealand and South America, according to Verrastro’s statement. This list included titles such as the 2012 horror film The Lords of Salem O Kickboxer, 1989 production with Jean-Claude Van Damme.
Avery misled investors by claiming it had “strategic partnerships” with HBO, Netflix, and other platforms. to license distribution rights abroad, and promised them a profit return of up to 40% in one year.
But according to the FBI, the defendant had no agreement and diverted much of the money for his personal gain. He used part of the funds to buy a home in Beverlywood in 2018, which is now for sale for $ 6.5 million. The actor has been charged with wire fraud and could face 20 years in prison if convicted.
Since December 2019, Avery’s company has defaulted more than 160 payments to its investors. Its largest investor, JJMT Capital, LLC, is owed more than $ 160 million in equity and about $ 59 million in profits. In total, Avery owes investors about $ 227 million.
US Attorney Alexander Schwab urged Judge Jean P. Rosenbluth, who is handling the case, to keep Avery in custody until his flight risk trial. “The odds that the defendant has some of that money hidden are quite high“Schwab said. Despite this concern, the magistrate has set her bail at $ 1 million, but she will remain in police custody until the bail is approved. For now, the artist will have to wait until May 13, the date on which his arraignment will take place.
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