A Mar Vista attorney was sentenced Monday to seven years and three months in federal prison for helping bilk investors out of nearly $1.8 million by offering shares in a movie that was never made.
U.S. District Judge R. Gary Klausner also ordered Samuel Braslau to serve two years of supervised release following prison and pay restitution of $1.6 million.
Braslau, 54, was found guilty last November of multiple counts of mail and wire fraud, and one count of making false statements to the U.S. Securities and Exchange Commission.
Evidence showed that Braslau and others raised money for a film called “The Smuggler” through a boiler room telemarketing operation in Van Nuys after first representing themselves as researchers.
Victims were falsely told that 64 percent of investor money would be used to produce the film, and that investors would be first in line to receive any revenue, according to federal prosecutors.
Braslau and his partners falsely claimed to have contracted such actors as Michael Caine, John Cusack, Donald Sutherland and Jon Voight to appear in “The Smuggler,” prosecutors said.
Braslau raised about $1.8 million from 60 investors, according to the U.S. Attorney’s Office. The film was never made, no script was completed, and none of the actors were ever approached to participate.
