Actor Zachary Horwitz arrested for allegedly scamming investors out of £164m with fake Netflix distribution deal
FBI says that the actor pretended to have distribution deals with Netflix, HBO and other platforms
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Actor Zachary Horwitz has been arrested on charges of defrauding investors out of $227m (£164m) by pretending to have film deals with Netflix and HBO.
The 34-year-old actor, who uses the stage name Zach Avery and has been described as a “small-time” performer, was arrested on Tuesday (6 April) in Los Angeles on a federal charge of wire fraud, the Los Angeles Times reports.
Horwitz is accused of running a large-scale Ponzi scheme in which he fabricated emails from executives at major production companies and platforms.
In the emails, the Curvature star reportedly claimed that his distribution company 1inMM Capital LLC had non-existent film distribution deals in hope of delaying demands for payment from his investors.
Appearing in federal court, FBI agent John Verrastro described a “brazen scheme” in which Horwitz falsely claimed to have “strategic partnerships” with HBO, Netflix and other platforms for international licensing. Investors were promised returns of up to 40 per cent in a year.
Read more:
- The Wire creator David Simon blasts Piers Morgan as an ‘empty parasite
- Piers Morgan accuses Meghan Markle of ‘hit job’ on the Royal Family and Britain
- Man asks protester for her Instagram without realising it’s Rihanna
- Sophie Winkleman says she landed ‘Two And a Half Men’ role without Hollywood knowing she is a royal
On one occasion the actor allegedly sent investors bottles of expensive scotch with 1inMM’s 2015 annual report, which detailed a “library” of 52 films supposedly distributing in Africa, Australia, New Zealand and South America. Among the movies were 2012 horror film The Lords of Salem and the 1989 Jean-Claude Van Damme movie Kickboxer.
However, the FBI said that Horwitz had no licensing deals and diverted much of the money for personal benefit. Among his purchases was a six-bedroom home in Los Angeles with a pool, gym and wine cellar.
The FBI says that he owes roughly $227m in principal to investors, including $160m (£115m) in principal and $59m (£42m) in profits to its largest investor alone.
Horwitz’s attorney did not respond to the LA Times’s request for comment.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments