Actor Zach Avery arrested in connection with $227 million Ponzi scheme in Hollywood

Actor Zach Avery was arrested in Los Angeles on Tuesday in connection with a $227 million Hollywood Ponzi scheme federal investigators said he masterminded.

The actor, 34, whose real name is Zachary J. Horwitz, perpetrated a fraud on investors by falsely claiming he had movie licensing deals with huge companies such as HBO and Netflix, FBI agent John Verrastro said in a sworn statement in LA court Tuesday, according to the Los Angeles Times.

Federal investigators said that Avery, who has been featured in movies such as The Devil Below, You’re Not Alone and Last Moment of Clarity, made phony emails purportedly from the aforementioned studios, in regards to phony distribution deals, in efforts to keep his investors demanding money at bay.

The latest: Actor Zach Avery, 34, was arrested in Los Angeles on Tuesday in connection with a $227 million Hollywood Ponzi scheme federal investigators said he masterminded. He appeared in the 2020 movie Last Moment of Clarity

Verrastro told the court that Horwitz ran a distribution company called 1inMM Capital LLC that collected the funds from investors in the purported bunko.

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