July 8, 2025 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Beverlywood Actor Pleads Guilty to Massive Ponzi that Falsely Claimed to License Foreign Film Rights to Fund Lifestyle

Zachary Joseph Horwit pleads guilty to security frauds

By Sam Catanzaro

A local actor pleaded guilty has admitted to operating a Ponzi scheme that raised at least $650 million with bogus claims that investor money would be used to acquire licensing rights to films, but instead using victims’ capital to fund his own lifestyle, including the purchase of his $6 million Beverlywood residence.

According to the Department of Justice U.SA. Attorney’s Office Central District of California, Zachary Joseph Horwitz, 34, of Beverlywood, admitted October 4 to a fraudulent scheme has caused more than $230 million in losses.

Horwitz–who has appeared in a number of films, usually in minor roles, under the name of Zach Avery–will appear at a sentencing hearing on January 3, 2022. When he is sentenced, he will face a statutory maximum sentence of 20 years in federal prison.

According to prosecutors, over the course of about five years, Horwitz used his company – 1inMM Capital LLC, which purported to be a film distribution company – to solicit investors with false claims their money would be used to purchase regional distribution rights to films and then would generate profits by licensing the rights to online platforms such as Netflix and HBO.

the scheme began in 2014, when groups of private investors began entering into hundreds of six- and 12-month promissory notes with 1inMM Capital based on Horwitz’s statements. The funds supplied under each note were supposed to provide money for 1inMM Capital to acquire the rights to a specific film. The promissory notes guaranteed a specified payment on a specified maturity date, as well as the specified amount to be paid at maturity, which included investment returns ranging from 25 percent to 45 percent.

“However, as [he] then knew, his representations concerning 1inMM Capital’s business activities and the promissory notes themselves were false and deceptive because 1inMM Capital generally did not and would not acquire or possess the film distribution rights for the films specified as collateral in the promissory notes, and 1inMM Capital did not and would not enter into any distribution agreements with the online streaming platforms for these specified films…and the purported copies of the distribution agreements were fake,” Horwitz admitted in his plea agreement.

Instead of using the funds to acquire films and arrange distribution deals, Horwitz operated 1inMM Capital as a Ponzi scheme, using victims’ money to repay earlier investors and to fund his own lifestyle, including the purchase of his $6 million Beverlywood residence.

Investors started to complain after 1inMM Capital began defaulting on notes in 2019, court documents states. In response, Horwitz “falsely reassured investors that any missed payments on promissory notes were caused by the actions of the online streaming platforms, and that payment on the notes would resume,” he admitted in the plea agreement. To support these false claims, Horwitz sent the investors emails and text messages he falsely claimed had been sent to him by representatives of the online streaming platforms.

Horwitz defrauded five major groups of private investors, but these entities derived funds from more than 250 sub-investors. By late 2019, 1inMM Capital began defaulting on all of its outstanding promissory notes, according to the plea agreement, in which Horwitz admits that he owes investors more than $230 million and that his scheme has caused substantial financial hardship to at least five investors.

in Crime, News
Related Posts

Transform Your Life: The Free Virtual ONENESS GLOBAL SUMMIT Debuts July 18-20, 2025

July 7, 2025

July 7, 2025

The ONENESS GLOBAL SUMMIT, a transformative three-day virtual event, is coming, July 18-20, 2025, offering participants worldwide a free opportunity...

Bel Air and Holmby Hills Estates Lead May’s List of America’s Top 10 Home Sales

July 7, 2025

July 7, 2025

LA Claims Two of the Top Three Luxury Home Sales Last Month expensive residential transaction in the U.S. for May,...

Developer Seeks to Replace Mid-Century Building With 65 New Units in Palms

July 7, 2025

July 7, 2025

Apartment Complex Near E Line May Be Demolished for Larger Housing Project Mid-century apartments near Metro’s Palms Station are set...

Michael Madsen, Star of Reservoir Dogs and Kill Bill, Dies at 67 in Malibu

July 4, 2025

July 4, 2025

Actor Remembered for His Intense Performances and as a Poet  Actor Michael Madsen, known for his distinctive gravelly voice and...

Los Angeles City Council Cracks Down on ‘Disaster Tours’ in Pacific Palisades

July 4, 2025

July 4, 2025

City Council Bans Commercial Bus Tours in Burn Zone Amid Community Backlash Tour buses that have been operating in fire-ravaged...

Tow Truck Scammers Target Crash Victims Across L.A.: Authorities Warn of Fraud at Accident Scenes

July 4, 2025

July 4, 2025

Officials Urge Drivers to Stay Alert After Collisions as Rogue Operators Demand Inflated Fees  Motorists involved in vehicle accidents are...

Woman Dies After Melrose Store Altercation: LAPD Launches Homicide Investigation

July 4, 2025

July 4, 2025

Critically Injured Young Woman Died July 2, After She was Badly Beaten at Work  The death of a woman critically...

CHP Officer Dies in Culver City Crash: Medical Emergency Suspected Behind Tragic Incident

July 4, 2025

July 4, 2025

Officer lost consciousness while transporting a suspect before crashing into a tree California Highway Patrol Officer Miguel Cano died early...

L.A. Beaches Brace for Holiday Rush: Over 1 Million Visitors Expected This Fourth of July

July 4, 2025

July 4, 2025

County Officials Urge Beachgoers to Pack Out Their Trash and  Monitor Water Quality More than one million visitors are expected...

(Video) A visit to New York Bagel & Deli in Santa Monica

July 3, 2025

July 3, 2025

Authentic NY Style Bagels with Extra Creamy Cream Cheese and Multi-Cultural Desserts. Located at 2216 Wilshire Blvd. A visit to...

Hot Dogs & Rosé: Something About Her and The Culver Hotel Roll Out Summer Specials

July 2, 2025

July 2, 2025

Westside Venues to Serve Playful Bites and Seasonal Sips For the Holiday Weekend A bold new offering is making its...

NeueHouse Hosts Bold One-Night Dinner With Culinary Phenomenon Diego Argoti

July 2, 2025

July 2, 2025

Acclaimed Chef Brings Culinary Mischief With a Five-Course Tasting Experience. NeueHouse Hollywood will host an exclusive, one-night-only dining event on...

(Video) Legacy, Reimagined: Architecture, Design & Construction by Home Front Build Los Angeles

July 2, 2025

July 2, 2025

Go To Homefrontbuild.com For More Information @home_front_build Legacy, Reimagined: Architecture, Design & Construction by Home Front Build Los Angeles Go...

405 Crash Near the Getty Sends Three to Hospital: Two Seriously Hurt Near Site Where LAPD Sgt. Died

July 2, 2025

July 2, 2025

Early Morning Multi-Vehicle Collision Shut Down Lanes Near Brentwood Three men were injured and traffic was snarled for hours following...

Elephants Take Over Beverly Hills: Global Art Exhibit Makes Final Stop at Beverly Gardens Park

July 1, 2025

July 1, 2025

Traveling Installation of Life-Size Sculptures Crafted by Indigenous Artisans Arrives in Beverly Hills Life-size sculptures of Indian elephants have arrived...