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Hollywood actor charged with fraud in alleged multimillion dollar Ponzi scheme, court documents show – CNN

It reads a bit like the plot of a bizarre Hollywood-centric screenplay: Small-time actor Zachary Horwitz was arrested Tuesday for allegedly running a multi-million…

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New York (CNN Business)It reads a bit like the plot of a bizarre Hollywood-centric screenplay: Small-time actor Zachary Horwitz was arrested Tuesday for allegedly running a multi-million dollar Ponzi scheme that involved raising funds from investors who thought their money was being used to buy and license film rights, according to a statement from the Justice Department.
Horwitz allegedly misappropriated funds raised from investors for movie licensing deals, putting some of the money in his personal…

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