A little-known Los Angeles-based actor has been indicted for running a massive Ponzi scheme that bilked investors out of roughly $230 million, federal prosecutors said.

Zachary Joseph Horwitz, who has credits in horror and science fiction flicks under the name Zach Avery, was charged Tuesday by a federal grand jury with five counts of securities fraud, six counts of wire fraud and two counts of aggravated identity theft, the Los Angeles Times reported.

Prosecutors allege the “White Crow” actor, who was arrested on April 6, duped investors from 2014 through 2019 to secure $690 million in loans by telling them he was using the funds to acquire licensing rights to films that HBO and Netflix had agreed to distribute abroad, primarily in Latin America.

Zachary Joseph Horwitz, professionally known as Zach Avery, has been charged with multiple counts of fraud and identity theft.
Matrix via ZUMA Press

Horwitz falsely claimed his company, 1inMM Capital LLC, would acquire the films due to its “solid relationships” with online platforms, but reps from HBO and Netflix say the companies had no dealings with the firm, federal prosecutors said earlier this month.

An indictment alleges that Horwitz was instead using the loans from one group of investors to repay earlier victims. In all, more than 200 people, including three of Horwitz’s college friends and their relatives, lost roughly $230 million, the newspaper reported.

Zachary Joseph Horwitz's California home
Zachary…

Read more…