Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Saturday, June 22, 2024 | Back issues
Courthouse News Service Courthouse News Service

Ponzi scheme

LOS ANGELES — Actor Zachary Horwitz, who pleaded guilty to raising at least $650 million in a Ponzi scheme in which he claimed investor funds would be used for purchasing film licensing rights, was sentenced Monday to 20 years in federal prison and ordered to pay more than $230 million in restitution.

Categories / Briefs, Criminal, Entertainment, Financial

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...