Zach Avery’s real name is Zachary J. Horowitz and as an actor or extra, he has appeared in just 15 productions since 2009. His most famous role was in the character of Michael Jones in “The White Raven,” and as an unsigned extra, he played the SS medic in the war drama “Fury,” starring Brad Pitt. The last title in his filmography sounds rather symbolic in the present situation – it is “Streets of Crime”. Now, the would-be actor and highly skilled swindler will spend the next 20 years in prison.
He played minor roles in the movies. In real life, he extorted $ 650 million
“The financial pyramid was by no means an exception to his unlawful way of life. For years he has sustained the lie that is the true core of his identity. He is a professional criminal and, unfortunately for his victims, is very good at his job,” prosecutors Alexander B. Schwab told the judge. and David H. Chao. They also stressed that it’s really hard to estimate the dimension Avery has inflicted on the 250 people who have entrusted him with $ 650 million over the years and financed his ultra-luxurious lifestyle. Businesses with a self-proclaimed investor that promised returns of 30-40 percent of their deposits have ended in financial ruin for many, as was the case with screenwriter Robert Henny, who lost a real fortune.
One of the victims of the scam, who wants to remain anonymous, testified at the hearing that Horowitz spent a month in spending the money collected by 15 years of honest and hard work. “I managed to set up a business thanks to the inheritance of my father – he worked for him for 60 years of his life. Everything disappeared in a split second on the defendant’s cars, planes and watches” – fell in the courtroom.
How did the Hollywood scammer work?
Horowitz founded the film company 1inMM Capital LLC in 2013, and from 2014 he continued its activity thanks to contributions from investors. He convinced them that he would spend the money on purchasing rights to the films, which would then be distributed globally by Netflix and HBO and other streaming platforms: first in Latin America, and recently he added Australia, Africa and New Zealand.
He did not stop at making promises, as the magazine describes, “in 2015 he was supposed to send his victims a bottle of blue Johnny Walker along with a fake report in which he described that the company had bought and successfully distributed 49 films with its banner without incurring any additional losses. the lawsuit shows an example of a table from his fake business statements:
The prosecutor’s report on the Zach Avery case https://www.sec.gov/
To increase the scale of the venture, he added a note there that the number could be increased by another 25 titles per year, which was supposed to give a 40 percent return on investment on an annual basis. In total, in his documents, FBI agents found 52 film titles that Horowitz allegedly bought and was supposed to profit from them, he reports in turn.
When it was time for payouts, Avery was sending fabricated correspondence with the bosses of Netflix and HBO to justify the delays. In fact, of course, he never collaborated with them. At the hearing, he admitted that he never bought any rights and forged hundreds of contracts. Over the years, he kept his system running, persuading more people to invest in his company, promising them exorbitant profits. He used their money to pay off his previous creditors, and the cycle would repeat itself over and over again. Avery has been in arrears with 160 payments since December 2019, and it is estimated that it owes investors in total $ 227 million. His practice was interrupted only by FBI agents who arrested him in April 2021.
Already in the courtroom, the actor shakily admitted that he had actually made “terrible and wrong decisions” when he tried to break into the film industry, and of course he was very sorry for the “pain and great hardship” he had caused investors. At the same time, he asked the judge not to be separated from his family: he has two small children and wants to see them grow up.
However, neither he nor his defense attorneys gave the reason why he started running the financial pyramid. Judge Mark C. Scarsi from his bench also reminded in the courtroom that Horowitz used investors’ money not only to pay off others. Thanks to them, he led a very lavish lifestyle: he bought a $ 5.7 million mansion in Beverlywood with a movie theater and vineyard, and paid for luxury yachts, private planes and sports cars.
What did 250 investors’ money go to?
The judge calculated examples of expenses and their amount: 706 thousand. he spent on just decorating the interior of the house, another 605 thousand. spent on Mercedes Benz and Audi cars, 345 thousand. he paid for trips on private jets and yachts, 174,000 he got from the party organizer in Los Angeles, another 136,000 he left in casinos and nightclubs in Las Vegas, 54.6 thousand. for watches, and made American Express credit card transactions for $ 6.9 million, he reports
Some of Avery’s money was also used to produce films in which he played himself – as reported by CNN, none of them have been successful. It is not known what happens with the missing money, the accusers do not rule out that Horowitz has a “rainy day” supply somewhere else. The judge, in addition to the maximum amount of imprisonment provided for in the law, ruled that Horowitz is also to return 230 million to investors – lawyers argue that he is only guilty of 60 million in dividends. They also suggest that their client suffers from undefined mental problems that date back to childhood.
The Justice Department reported to the media after the hearing: “Horowitz presented himself as an example of a successful businessman in Hollywood. He posed as an influencer who sold foreign distribution rights to large streaming platforms, which was supposed to be very profitable. However, as his victims found out,” Horowitz wasn’t really a successful businessman or an important Hollywood figure. He was just faking it. “
In February 2019, Avery gave the magazine. “He admitted,” I’ve always dreamed of being ‘discovered’ and almost immediately getting a role in the perfect movie, but it’s just a dream. Acting requires determination, perseverance and absurd confidence to endure all refusals until you hear ‘yes’ for the first time. It’s not easy, but it’s definitely worth it! ”He also included advice for everyone who dreams of acting:
Do not give up. Don’t let the “no” prevail over the passion that makes your dreams come true. And don’t let anyone tell you that you won’t make it, because if you really believe it’s the only thing that will make you professionally fulfilled, make that voice the loudest in your head.
Source: Gazeta
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
