Feds Allege Actor’s $ 690 Million Ponzi Scheme Lied About Selling Movies To Netflix

Not everyone can be like Rian Johnson and Daniel Craig, who could reportedly make up to $ 100 million each in their deal with Netflix for two Knives Out sequels, but maybe you could tell people yes. According to the FBI and the SEC, that’s what Zachary Horwitz allegedly did, as part of a Ponzi scheme that, according to the SEC, raised more than $ 690 million.

Described as a petty actor by the LA Times and listed as Zach Avery on his IMDB profile, Horwitz apparently told investors that his company 1inMM (one in a million) was involved in buying movie rights and reselling them to HBO and Netflix. However, representatives from both companies told the FBI that they have no business relationship with 1nMM, and the FBI says the license and distribution agreements shown to investors were bogus, with fake signatures. He stated that his investments were safe and, according to the FBI affidavit, told investors that “we received confirmation from each of our products indicating your desire to acquire the rights to any security we purchase BEFORE we provide funds for the movie”.

With those falsified documents, they allege that Horwitz began receiving funds in 2015, eventually using the victim’s money to pay off previous investors and purchase a $ 6 million home. The SEC says it has accused Horwitz and 1nMM of violating anti-fraud laws, while freezing their assets. The FBI announced Horwitz’s arrest, citing $ 227 million from investors transferred to the company since late 2018 that Horwitz has allegedly breached and charging him with wire fraud, which carries a maximum penalty of up to 20 years in jail. According to the LA Times, was released on a guaranteed bond of $ 1 million.

On the bright side, once this is all over, Horwitz might have a story that Netflix is ​​interested in buying after it releases the Anna Delvey / Anna Sorokin documentary.

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