Hollywood actor, Zachary Horwitz arrested for multimillion-dollar Ponzi scheme

 
 “We’ve obtained an asset freeze and other emergency relief in an emergency enforcement action against Los Angeles-based actor Zachary Horwitz and his company, 1inMM (one in a million) Capital, LLC in connection with an alleged Ponzi scheme that raised over 0 million.”
It is believed that Horwitz began receiving funds as part of the Ponzi scheme in 2015, using them to purchase a million home in the Beverlywood neighborhood of Los Angeles, while repaying earlier investors.
It is believed that Horwitz began receiving funds as part of the Ponzi scheme in 2015, using them to purchase a million home in the Beverlywood neighborhood of Los Angeles, while repaying earlier investors.
It is believed that Horwitz began receiving funds as part of the Ponzi scheme in 2015, using them to purchase a million home in the Beverlywood neighborhood of Los Angeles, while repaying earlier investors.
Horwitz’s credits as an actor include low-budget features such as Trespassers and The Devil Below. His assets are currently frozen, with the charges against him carrying a maximum penalty of 20 years in jail. Hollywood actor Zachary Horwitz arrested for multimillion-dollar Ponzi scheme

Horwitz allegedly told investors that his company invested in film rights, subsequently reselling these rights to distributors like Netflix and HBO. He is said to have sold people on his scheme by showing them fake licensing and distribution agreements, featuring forged signatures. Ultimately, however, both of the above companies confirmed to the FBI that they’d never conducted business with 1nMM.

  The SEC said;  The FBI and SEC allege that Horwitz ran a Ponzi scheme through his company, 1inMM, which defrauded investors of 7 million. A hearing will take place April 19 “to determine if the asset freeze should remain in force for the duration of the litigation.”

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