{"id":1301344,"date":"2022-02-16T00:37:27","date_gmt":"2022-02-16T05:37:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1301344"},"modified":"2022-02-16T00:37:35","modified_gmt":"2022-02-16T05:37:35","slug":"actor-zach-avery-gets-20-years-in-prison-for-650-million-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/actor-zach-avery-gets-20-years-in-prison-for-650-million-ponzi-scheme\/","title":{"rendered":"Actor Zach Avery Gets 20 Years in Prison for $650 Million Ponzi Scheme"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Factor-zach-avery-gets-20-years-in-prison-for-650-million-ponzi-scheme%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1301344&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/02\/zachavery1-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">Actor Zach Avery, who has had a handful of minor roles in Hollywood, has been sentenced to 20 years in prison after being convicted of running a multimillion-dollar Ponzi scheme involving phony movie distribution deals.<\/p>\n<p>Last April, Zachary Joseph Horwitz, who performed under the name is Zach Avery, was <a href=\"https:\/\/www.breitbart.com\/entertainment\/2021\/04\/07\/zach-avery-charged-with-alleged-ponzi-scheme-with-phony-film-deals\/\" target=\"_blank\" rel=\"noopener\">charged<\/a> with fraud by the U.S. Attorney\u2019s Office in Los Angeles after defrauding investors out of more than $650 million over several years.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Prosecutors said the 34-year-old actor told investors he was using their money to purchase foreign film rights that would be sold to HBO, Netflix, and other streaming services, studios, and producers. But prosecutors said his 1inMM Capital LLC was a total fraud.<\/p>\n<p>Instead of investing in film projects, prosecutors say Horwitz spent money from succeeding investors to pay off earlier investors and also to fund a lavish $6 million home and other personal expenses.<\/p>\n<p>Prosecutors proved in court that Horwitz never secured any film rights at all. Indeed, the 49 films he claimed he was buying the rights to don\u2019t even exist.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cHorwitz provided investors with fake license agreements, as well as fake distribution agreements with Netflix and HBO, all of which contained forged or fictional signatures,\u201d the U.S. Attorney\u2019s Office said when Horwitz was arrested.<\/p>\n<p>The actor <a href=\"https:\/\/www.usatoday.com\/story\/entertainment\/celebrities\/2021\/10\/05\/actor-zach-avery-pleads-guilty-650-million-ponzi-scheme\/6001605001\/\" target=\"_blank\" rel=\"noopener\">pleaded<\/a> guilty to the charges in an L.A. court in October.<\/p>\n<p>This month, the convicted actor was sentenced to 20 years in federal prison and ordered to pay $230 million in restitution to his victims.<\/p>\n<p>Horwitz\u2019s acting credits include a role in <i>You Are Not Alone, The White Crow<\/i>, and <i>Farming<\/i>. He also had an uncredited part in Brad Pit\u2019s war film <i>Fury<\/i>.<\/p>\n<p><i>Follow Warner Todd Huston on Facebook at: <a href=\"https:\/\/www.facebook.com\/Warner.Todd.Huston\">facebook.com\/Warner.Todd.Huston<\/a><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Actor Zach Avery, who has had a handful of minor roles in Hollywood, has been sentenced to 20 years in prison after being convicted of running a multimillion-dollar Ponzi scheme &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1301344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1301344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1301344"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1301344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1301344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1301344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1301344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}