Zachary Horwitz, Beverlywood, L.A actor aka Zach Avery busted running $227 million Ponzi scheme after falsely claiming film licensing deals with big media outlets under his 1inMM Capital LLC label.
He may have finally gotten his starring role – real life jail bird.
A little-known Los Angeles-based actor was arrested by the FBI on Tuesday for allegedly running a vast Ponzi scheme where according to a court filing he duped investors by lying about the success of his film distribution company.
Zachary Horwitz, 34, who has had roles in small films under the name Zach Avery, is accused of cheating investors out of $227 million and using most of the funds for himself, The Los Angeles Times reports, citing federal authorities.
Horwitz allegedly enticed investors by falsely claiming his company, 1inMM Capital LLC, had film licensing deals with Netflix, HBO and other platforms, the latimes reported.
Noted a previous release via deadline: ‘We created 1inMM Productions to produce high concept genre films with an edgy and unique approach to storytelling.’ Adding, ‘Together, we have a shared commitment of cultivating the rise of a new class of auteurs.’
Horwitz also told investors his company distributed 52 films in South America, Africa and Australia, according to court records, and gifted his funders bottles of pricey Johnny Walker Blue Label scotch.
The actor who effectively played the part of a real life producer would forge signatures from licensing firms on the pretense that deals had been consummated.
When it came time to pay off his investors, Horwitz sent fake emails from HBO executives justifying delays, along with also fabricating emails from Netflix, the FBI said.
‘In reality, neither Horwitz nor 1inMM Capital ever engaged in email correspondence with Netflix or HBO,’ FBI agent John Verrastro wrote, ‘nor did Horwitz or 1inMM Capital ever have any business relationship with Netflix or HBO at all.’
When life mirrors art
The actor owes investors roughly $227 million — defaulting on 160 payments to them since 2019, according to the FBI.
Much of the misappropriated funds was used for personal expenses and maintaining a lavish lifestyle, including the 2018 purchase of a Beverlywood home, now listed for sale for $6.5 million. The six-bedroom home features a pool, wine cellar and gym.
The wannabe actor faces wire fraud charges. At his Tuesday arraignment, Horwitz was released on $1 million bond.