Last Moment Of Clarity actor, Zachary Horwitz, has been sentenced to 20 years in prison for concocting dubious HBO and Netflix deals and defrauding investors.
The actor succeeded in defrauding 250 victims in a Ponzi-scheme-like manner, to the tune of $650 million. It is the biggest scam of its kind in Hollywood.
Zachary Horwitz began the scam in 2014. He told investors that his company, 1inMM Capital, would use their money to buy distribution rights to specific movies, and resell at a profit to streaming companies.
The Ponzi scheme which ran for seven years used the money of new investors to pay off old investors. Zachary Horwitz’s first victims were his friends, then he extended his net to bring in more investors to service the new ones.
The FBI discovered that the actor spent the money on a $5.7million home in Beverlywood, $706,000 on interior decorations, and $605,000 on Mercedes Benz and Audi cars.
FBI also reports that he splurged $345,000 on private jet and yacht hires, $174,000 on a Los Angeles party consultant, and $136,000 at Las Vegas casinos and nightclubs.
Prosecutors said that, in total, he had made more than $6.9m of charges on his American Express.
His wife Mallory divorced him when his acts were discovered. In her words, Horwitz who is now her ex, “was deceiving and manipulating me and everyone around him, and he is not the person that I believed he was.”
A prosecution memo by assistant US attorneys Alexander Schwab and David Chao told Judge Mark C Scarsi:
“He began by betraying the trust of his own friends, people who lowered their guard because they could not possibly imagine that someone they had known for years would unflinchingly swindle them and their families out of their life savings.”
“His Ponzi scheme was not an aberration from an otherwise law-abiding existence… The lie, which he sustained for years, was the core of his identity. He was a professional criminal; and, unfortunately for his victims, he was very good at his job.”
Zachary Horwitz appears in movies as Zach Avery. He is known for his work on Last Moment of Clarity (2020), The White Crow (2018), and Farming (2018).
It seems Zach Avarice will be spending the next 20 years marinated in moments of absolute clarity.
