An aspiring actor was indicted in Los Angeles Tuesday on suspicion of running a massive Ponzi scheme that solicited hundreds of millions of dollars from investors for phony Hollywood film licensing deals

LOS ANGELES — An aspiring actor was indicted Tuesday in Los Angeles on suspicion of running a massive Ponzi scheme that solicited hundreds of millions of dollars from investors for phony Hollywood film licensing deals, federal prosecutors said.

It wasn’t immediately known if Horwitz has an attorney.

From 2014 to 2019, Avery allegedly he lied to investors to secure $690 million in loans to his film company, 1inMM Capital, prosecutors said.

More than 200 investors, including three of Horwitz’s closest college friends and their family members, lost about $230 million, the Times reported.

But instead of using the funds to make distribution deals, Horwitz allegedly operated his company as a Ponzi scheme, using victims’ money to repay earlier investors…

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