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Hollywood actor Zachary Horwitz arrested on US charge he defrauded investors of $227 million

( April 7, 2021, 17:20 GMT | Official Statement) -- MLex Summary: Hollywood actor Zachary Horwitz, who has used the screen name Zach Avery, was arrested on a federal wire-fraud charge that he ran a Ponzi scheme that defrauded investors out of $227 million. Horwitz falsely told investors that their money would be used to buy licensing rights to films that HBO and Netflix had agreed to distribute mostly in Latin America, the US Department of Justice said. Instead, he used his company, 1inMM Capital, to fund his lifestyle including the purchase of his $6 million Beverlywood, California residence, the DOJ alleged. Statement follows in full. ...

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