Zachary Horwitz, an actor who admitted to operating a multimillion-dollar Ponzi scheme, was sentenced to 20 years in federal prison this week, according to the Department of Justice.
In a news release, the Justice Department said Horwitz “raised at least $650 million with bogus claims that investor money would be used to acquire licensing rights to films that HBO and Netflix purportedly had agreed to distribute abroad.” Horwitz pleaded guilty to the charges in October 2021.
