Actor Zach Avery (real name Zachary Horowitz) is accused of running a multi-million dollar Ponzi scheme based on Hollywood film licensing deals.
The 34 year old actor, is accused of falsely claiming that he had movie licensing deals with huge companies such as HBO and Netflix. Investors jumped and it became a $227-million dollar Ponzi scheme.
Avery even went so far as to send a 2015 investor report out with a bottle of Johnny Walker. It claimed his 1inMM Capital LLC owned distribution rights to 52 movies across Africa, Australia, New Zealand and South America. It didn’t.
Among the things the actor bought with the cash he got? A six-bedroom home in the swanky Beverlywood neighborhood of Los Angeles for $6.5 million. Zach has defaulted on 160 payments to investors since 2019, according to an FBI report.
He was taken into custody yesterday, charged with wire fraud and released on a million dollar bond. He is facing 20 years in prison.
Here he is in last years Last Moment Of Clarity with Brian Cox.