Aspiring actor gets 20 years for $650M movie deal scam
LOS ANGELES (AP) — An aspiring actor who ran a movie deal scam that bilked investors out of at least $650 million has been sentenced to 20 years in federal prison. Zachary Horwitz of Los Angeles was sentenced Monday and ordered to repay more than $230 million. Prosecutors said that for five years, Horwitz ran a company that falsely claimed to be buying distribution rights to movies that would be licensed for use to Netflix and other streaming platforms. Instead, prosecutors say some money repaid earlier investors and the rest went to support Horwitz in a lavish lifestyle. Authorities say the scheme bilked more than 200 investors.
