This crime thriller isn’t a script, it’s real!
Hollywood actor Zachary Horwitz (34, stage name Zach Avery) has been arrested in Los Angeles for large-scale financial fraud. The accusation: With the help of a sophisticated pyramid scheme, he is said to have cheated investors out of hundreds of millions of dollars!
Horwitz face up to 20 years imprisonment! According to the US financial regulator SEC, he is said to have been soliciting investments in his company “1inMM Capital” since 2015 – with the false claim to buy regional film distribution rights and then distribute them to large broadcasters such as Netflix or HBO license for distribution in Latin America. In return, he promised his victims an incredible 35 percent return.
In reality, however, he has never had a “business relationship” with any of the companies …
According to the SEC, Horwitz sacked up to 690 million dollars (almost 580 million euros) in this way!
He used part of the money initially to give investors a share of the supposed income, with the remaining money, according to the prosecutor, to finance his lavish lifestyle – “including the purchase of a Beverlywood mansion for six million dollars”.
Horwitz still owes the investors $ 227 million.
According to the “Los Angeles Times”, his acting career was less successful: Horwitz was mainly used as a small actor, the big breakthrough was denied him. Most recently he has appeared in thrillers and horror films such as “Last Moment of Clarity”.
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