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Netflix and HBO scammer arrested by federal government in $ 227 million ponzi scheme – fitshopee

In a real-life scheme that could easily be the plot of a networked or streaming procedural limited series, HBO and Netflix helped the federal government bring to justice an aspiring Hollywood who defrauded investors for hundreds of dollars. millions of dollars.

Zachary Horwitz, who goes by the screen name “Zach Avery”, was arrested yesterday by the FBI on criminal default charges of more than $ 227 million from backers who thought they were going. collect the license fee for the cable movies and the streamer owned by WarnerMedia in Latin America.

“In fact, neither HORWITZ nor 1inMM Capital have ever had any email correspondence with Netflix or HBO, and HORWITZ or 1inMM Capital have never had any business dealings.
with Netflix or HBO at all, ”says an affidavit of FBI Special Agent John Verrastro on April 5 from The devil below actor and his film distribution shingle in 2013. “The email exchanges and the licensing agreements were bogus,” adds Verrastro (read the affidavit here).

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As bogus as they may be, the living great Horwitz has had the scam successfully for a number of years with a few questions asked by his stingy investors. By literally taking Paul’s finds to pay Peter off, so to speak, Horwitz was able to swindle more backers and float the promised 25% return of the system to companies like Chicago-based JJMT Capital, LLC. For more than five years, the sleight of hand provided the mirage of financial triumph and saw Horwitz snatch a $ 6 million spread from Beverlywood and other balls.

However, at the end of 2019, 1inMM began to default on its promissory notes with allegations of cumbersome audits and corporate restructuring at Netflix and HBO.

“To extend the program and maintain the illusion that 1inMM Capital was a legitimate business as a result of these growing defaults, HORWITZ falsely portrayed to JJMT that online platforms had refused to pay on time for distribution rights like mandatory, and provided an apology that was allegedly given by Netflix and HBO, ”continues Verrastro’s affidavit.

“To substantiate these claims, HORWITZ has repeatedly sent emails to JJMT in which it forwarded alleged emails with Netflix and HBO employees, respectively, discussing the underlying license agreements,” the paperwork continues at About the elaborate and clearly rigged endings to which Horwitz went to roll the good times.

As with any good drama, there are some cute cameos to choose from as well.

Clearly, working with the federal government in their investigation, Melinda LeMoine, Netflix’s director of content litigation, and WarnerMedia’s senior litigation administrator, Patrick Younan, make crucial appearances in the affidavit. The two leaders made signed statements to the FBI on the matter and that neither of their organizations had any relationship with Horwitz and 1inMM.

“In fact, on February 12, 2021, Ms. LeMoine sent a cease and desist letter to HORWITZ both through her LinkedIn account and through her attorney,” notes the filed affidavit.

The letter stated that Netflix had learned that HORWITZ and its company 1inMM Capital had used forged documents to represent to third parties that 1inMM Capital had licensing agreements with Netflix, but that in fact Netflix did not have such agreements. with 1inMM Capital or HORWITZ, ”the FBI Special Agent’s document states. “The letter further stated that HORWITZ had used fabricated emails allegedly exchanged with a Netflix employee to indicate to others that he was planning to receive funds from Netflix, and that these emails were also fraudulent. The letter asks HORWITZ to stop making false claims about its deals with Netflix. “

Neither Netflix nor HBO commented on the case today when contacted by Deadline.

On April 6, Horwitz appeared in United States District Court to face the music of assistant prosecutors to U.S. attorneys Alexander Schwab and David Chao of the Major Fraud Section.

With the criminal complaint against him now unsealed, the “self-proclaimed Hollywood entrepreneur” faces up to 20 years in prison if convicted of the wire fraud charges. The presiding judge set Horwitz’s bail at $ 1 million, and he was released Tuesday night after the issue of finding that money was resolved.

Right now, an indictment is on the court calendar for May 13 in the case.

Who knows, an adaptation of this wild ride might be in development by then.

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