Hollywood D-list actor arrested for alleged Ponzi scheme


By AGENCY

Zach Avery was arrested by FBI agents on April 6 for allegedly masterminding a Ponzi scheme that defrauded investors of hundreds of millions of dollars. Photo: Handout

American actor Zach Avery was arrested by FBI agents in Los Angeles on April 6 for allegedly masterminding a Ponzi scheme that defrauded investors of hundreds of millions of dollars, US authorities said.

Avery, whose real name is Zachary Horwitz, told investors his company 1inMM Capital would buy film distribution rights and license them to Netflix and HBO but in fact had "no business relationship with either company", according to the Securities and Exchange Commission.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Entertainment

Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star
Soobin of TXT to take time off due to health issues
'Abang Adik', 'Hungry Ghost Diner', 'Rain Town' among top contenders at Malaysia Film Festival
V of BTS sings winter season duet with Park Hyoshin
'Abang Adik', 'Imaginur' among top 5 contenders for FFM33 Awards
Korean Actor Yeo Jin-goo excited for first visit to Malaysia: 'I want to try nasi lemak'
Rap superstar Kendrick Lamar drops surprise new album 'GNX'
Blackpink’s Lisa to roll out first solo full album 'Alter Ego' in Feb 2025
Elon Musk’s model mother sees celebrity takeoff in China
'Wicked' review: Musical adaptation defies gravity... eventually

Others Also Read