• Actor Zach Avery Arrested For Alleged $690 Million Hollywood Ponzi Scheme

    12 days ago - By GameSpot

    An actor named Zachary Horwitz, who works under the screen name Zach Avery, was arrested on Tuesday for allegedly defrauding investors of over $690 million. It's not the first Ponzi scheme to have been identified in Hollywood, but it may be one of the biggest. An affidavit by FBI agent John Verrastro, quoted by The Hollywood Reporter , details the crimes Horwitz has been accused of. With his company 1inMM Capital, Horwitz allegedly went to investors using fraudulent distribution agreements with large companies such as HBO and Netflix. Not only were the distribution deals non-existent, but...
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