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Hollywood Actor Allegedly Used Netflix And HBO Max As Lures In $227 Million Ponzi Scheme

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Hollywood Actor Allegedly Used Netflix And HBO Max As Lures In $227 Million Ponzi Scheme

Zachary Horwitz, sometimes called Zach Avery, has been charged with wire fraud and could spend 20 years in prison for his alleged ponzi scheme. He was arrested by the FBI on Tuesday. Horwitz, through his company, 1inMM Capital LLC, allegedly solicited investors’ money for a plan that would purchase regional distribution rights, primarily in Latin America, for films that would then be licensed to platforms like Netflix and HBO. However, according to Variety, money brought in from later investors was reportedly used to pay back earlier investors, and also to buy himself a $6 million Southern California home.

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