Hollywood actor Zach Horwitz, dubbed the 'midwestern, millennial Madoff,' has been involved in a massive Ponzi scheme, deceiving investors out of $690 million. Horwitz, who presented himself as a successful film distributor, claimed to have partnerships to license the foreign distribution rights to numerous films, including 'The Lords of Salem' and 'Kickboxer.' The FBI is currently involved in the investigation. The scheme, described as 'Hollywood’s biggest Ponzi scheme,' targeted friends and family, exploiting their trust. Amazon MGM Studios has acquired 'Hollywood Ending,' a documentary directed by Rebecca Chaiklin, which chronicles Horwitz's downfall. A studio executive commented on the nature of Hollywood, stating, 'People try to buy their way in, and what happens is they lose a lot of money and still get kicked to the curb,' as reported by the New Yorker.
“There was something about his eyes. He smelled good, his haircut was nice, he had a nice watch. He made you believe,” Zach Horwitz’s former publicist said of her client, who swindled over $690 million from hundreds of investors. https://t.co/AJaZoUfAVM
Ex-Beverly Hills lawyer admits to role in $9.5 mln crypto Ponzi scheme https://t.co/vftfwb46Nu https://t.co/2sVm45J32Y
Small-time actor Zachary Horwitz sought investors for his film distribution company. He said he had partnerships to license the foreign distribution rights to dozens of films, including horror movie “The Lords of Salem” and action film “Kickboxer.” https://t.co/qsdFgI9BtO
Zach Horwitz excelled by knowing his audience; his fraud rested on perceptions of Hollywood as a money factory. “People try to buy their way in,” a studio executive said, “and what happens is they lose a lot of money and still get kicked to the curb.” https://t.co/JgliUCTuYG
EXCLUSIVE: Amazon MGM Studios has acquired ‘Hollywood Ending,’ a new documentary directed by Rebecca Chaiklin. The film follows the downfall of Zach Horwitz, the charismatic “midwestern, millennial Madoff” who ran a $690M Ponzi scheme https://t.co/pQJuGTqXYl
How a B-movie actor duped friends and family out of $690M for ‘Hollywood’s biggest Ponzi scheme’ https://t.co/AhDGjzi7JX https://t.co/yQk6bcr8do
How a struggling actor duped friends and investors in a $690M+ Hollywood Ponzi scheme, claiming to buy cheap movie rights and sell them to major streamers (@eosnos / New Yorker) https://t.co/hoXcPnvnkt https://t.co/1vyEKMv9Ws
Hollywood Actor Raises $690 Million by Deceiving Investors, FBI Involved https://t.co/FlB7wAdcKy