New York (CNN Business) Zachary Horwitz, a short-lived actor who agreed to a movement Ponzi scheme (Pyramid Project) Billionaire was sentenced Monday to 20 years in prison.
The Justice Department said in a statement that Horowitz had raised at least $ 650 million based on false allegations that HBO and Netflix were using investor money to license the films they had agreed to distribute overseas.
HBO, like CNN, is part of WarnerMedia.
In October, Horowitz pleaded guilty to federal security fraud charges and pleaded guilty to directing the Ponzi scheme.
He was sentenced on Monday to 240 months in prison and will have to pay more than $ 230 million in damages. CNN has approached Harvitz’s lawyer for comment.
Harwitz, 35, is accused of keeping some money in his personal accounts, buying private residence for about $ 5.7 million in cash, traveling to Las Vegas and flying charter flights. Exchange Commission.
Harwitz, better known by his stage name “Zack Avery”, has starred in over a dozen low-budget films over the past decade, including “Trespassers” and “The White Crow”, according to his IMDb profile. He played a minor, unrecognized character in “Fury” starring Brad Pitt.
– Claire Duffy of CNN Business contributed to this report
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