Investment Loss Recovery Options For Investors In The 1INMM Capital, LLC Ponzi Scheme Perpetrated By Actor Zachary Horwitz a/k/a Zachary Avery
The Wolper Law Firm is currently investigating claims arising out of the $690 million Ponzi Scheme orchestrated by actor, Zachary Horwitz, known in Hollywood as Zachary Avery. If you are one of the impacted investors, please contact the Wolper Law Firm at 800.931.8452.
On April 7, 20201, the Securities and Exchange Commission (SEC) filed a Complaint against Zachary Horwitz and his media company, 1inMM Capital, LLC, alleging that it perpetrated a $690 million Ponzi Scheme, raising capital from hundreds of investors. A copy of the Complaint can be accessed by clicking here. Zachary Horwitz was also criminally indicted.
The essence of the fraud is that Zachary Horwitz represented that he could acquire licensing and distribution rights in specific movies, mostly in Latin America, and sell those rights to major media companies, including Netflix and HBO. Zachary Horwitz used his profile to provide credibility to each deal and create the aura that he had relationships with the likes of Netflix and HBO.
from friends and family of friends. Zachary Horwitz also used five downstream promoters to solicit investors, including JJMT Capital, LLC, Movie Fund, LLC, SAC Advisory Group, LLC, Vausse Films and Pure Health Enterprises, LLC (hereinafter, the “Promoters”).
The Promoters solicited myriad clients to invest in a series of promissory notes. In the process, the Promoters and Zachary Horwitz made representations to investors that the funds would be used to acquire movie rights in movies that were identified to investors. Investors were provided with fake emails, contracts and term sheets, purportedly reflecting deals with HBO and Netflix to distribute acquired movies. The Promoters and Zachary Horwitz provided updates to investors, suggesting that deals were going well and investors were on track for dividends and above-average payouts. This was all a ruse.
Zachary Horwitz used investor funds to finance his lavish lifestyle, including millions spent on real estate, vacations and gambling. Over time, when pressed by investors regarding the lack of dividends or return on their investment, Zachary Horwitz and the Promoters represented to investors that delays were temporary, COVID driven or were as a result of normal delays in culminating deals with HBO and Netflix.
If you invested with Zachary Horwitz, 1inMM Capital, LLC or any of the funds offered by the Promoters used by Zachary Horwitz, including, JJMT Capital, LLC, Movie Fund, LLC, SAC Advisory Group, LLC, Vausse Films and Pure Health Enterprises, LLC, please contact the Wolper Law Firm for a free, no obligation consultation. The Promoters who sold these unregistered securities were not registered brokers, dealers or investment advisors as is required under both federal and state securities laws. The Promoters also failed to conduct appropriate due diligence, including the review of financials and contracts. The Promoters also did not speak/meet with the appropriate contacts at HBO or Netflix to confirm their involvement in these purported deals.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at email@example.com.