You may be entitled to recovery if you were a fraud victim of Zach Avery, aka Zachary J. Horwitz. Call 303-300-5022 for a free and confidential consultation.
Avery is a small-time actor and was arrested Tuesday April 6 in Los Angeles for running a massive Ponzi scheme. This is a fraud that defrauded investors out of $227 million. He did this by touting fictitious film licensing deals with HBO, Netflix and other platforms.
The actor sent investors bottles of Johnny Walker Blue Label whisky with the his company’s falsified financials highlighted a “library” of 52 films his company, 1inMM Capital, distributed in Africa, Australia, New Zealand and South America.
Avery ran the Ponzi through City National Bank. We are currently investigating liability of this bank for its involvement in the laundering of the funds received by Horwitz. Investors who themselves had accounts or other business relationships with City National Bank would have relatively stronger claims for recovery.
According to the Securities and Exchange Commission, SEC, Horwitz used money from his personal City National Bank account for lavish personal spending, including, but not limited to, extravagant trips to Las Vegas, flights on chartered jets, payments for high-end automobiles, a subscription service for luxury watches, and the previously described purchase of his multi-million-dollar home.