Description :

Zachary Joseph Horwitz

Zachary Joseph Horwitz, known professionally as Zach Avery, orchestrated a significant Ponzi scheme that defrauded investors out of $650 million. Horwitz, an aspiring actor, convinced investors he had lucrative film distribution deals with major platforms like Netflix and HBO. Using his company, 1inMM Capital LLC, he sold promissory notes, claiming the funds would be used to purchase distribution rights to films, which would then be resold to these streaming giants.

The scheme, which ran from 2014 to 2019, attracted over 250 investors who believed they were funding legitimate deals. Horwitz used fabricated contracts and emails to maintain the illusion of authenticity. In reality, there were no such deals with Netflix or HBO, and Horwitz diverted much of the invested money for personal use, including purchasing a $5.7 million Beverlywood mansion, luxury cars, private jet trips, and other extravagant expenses.

When his scheme began to unravel, Horwitz was arrested in April 2021 and subsequently pleaded guilty to securities fraud in October 2021. He was sentenced to 20 years in federal prison and ordered to pay $230 million in restitution.