Hollywood Actor Zachary Horwitz Sentenced To 20 Years For Ponzi Scheme | The Guardian Nigeria News

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Zachary Horwitz has confirmed operating a multi-million dollar ponzi scheme. The actor was given a jail term sentence of 240 months (20 years) in the federal prison. Following the sentence, Horwitz is required to pay a compensation of more than $230 million. The Department of Justice made this known in a news release stating that…

LOS ANGELES, CA – FEBRUARY 14: Horror-film actor Zachary Horwitz, 35, flanked by attorneys Ryan Hedges, left, and Anthony Pacheco, was sentenced to a maximum of 20-years by a federal judge for running what prosecutors say is the biggest Ponzi scheme in Hollywood history, as he exitis the U.S. District Court on Monday, Feb. 14, 2022 in Los Angeles, CA. Horwitz is required to pay $230 milliion in restitution to victims and must self surrender on March 14, 2022. He fabricated HBO and Netflix contracts that made it look like he had distribution rights for hundreds of films in markets overseas, but in…



Source: Guardian Newspaper