Despite his lengthy prison sentence, actor Zachary Horwitz is still making headlines. In October, he pleaded guilty to a single count of felony securities fraud, which carries a maximum sentence of 20 years. His plea also showed that he had an appetite for both profit and content. This led him to take steps to clean up his personal life and avoid a lengthy prison sentence. But what about the company he founded?
According to his attorney, Anthony Pacheco, Horwitz was an upstanding man who was hindered by mental health problems. While he felt remorse for the accident, he said, “His actions were the result of a mistake I made.” His lawyer, Joseph Pesci, meanwhile, told reporters that the actor had spent a large amount of money on personal expenses and that he sincerely regrets his actions.
Although he has never admitted guilt, Horwitz has apologized to his victims and has been incarcerated.
His criminal record is impressive and he owes a debt to the people who have lost so much money. In addition to being a victim of the fraud, he has caused immeasurable pain to his victims. Some of them were wealthy, institutional investors and others were middle-class. Some of them lost all of their retirement savings. Other victims experienced shame, stress, depression, and a loss of dignity and faith in humanity. A father of two young boys, Scott Cohen, filed for bankruptcy because of his financial problems with Horwitz.
Despite being the son of divorced Jewish parents, Zachary Horwitz did not grow up in a small town like most actors. He attended a small college in Indiana, graduated from the University of Indiana with a psychology degree, and then moved to Fort Wayne, Indiana. There, he met his wife, Mallory Hagedorn. As the couple became engaged, they decided to move to Los Angeles to pursue their dreams.
After obtaining a degree in psychology from the University of Florida,
Horwitz began working on films as a professional. He also appeared in TV series such as The Good Fight. However, he did not pursue acting as a career. As a student, he took acting lessons. He enrolled in an acting course at a local university and got involved in various theatre and music groups. After graduating, he married Hagedorn, an actress who worked in the film industry.
While he may be a popular actor, Zachary Horwitz’s alleged exploitation of film companies and customers has left many victims stranded. He was ordered to repay $230 million to victims of his Ponzi scheme and was found guilty of using company money to buy movies and license them to streaming services. The scams he engaged in were a scam, which led to a court case against him.
As a result of his crimes, the actor has been convicted of a number of crimes, including swindling clients.
This Man has also been accused of using company funds for personal expenses. was arrested by the FBI in April 2021. worked in the film industry for almost a decade. He starred in movies such as “Fury” and “Groundhog Day”. His stage name was Zach Avery.
The charges stem from the massive Ponzi scheme that he ran. The filmmaker had falsely claimed that he would buy distribution rights to movies and license them to streaming services, but this was not true. During this time, the company suffered from financial losses of over $230 million. By claiming to be affiliated with a streaming platform, Horwitz was able to lure in unsuspecting investors. In fact, he had a legitimate relationship with HBO, albeit an unintentional one.
His company acquired millions of dollars worth of film rights, largely in Latin America and Netflix.
But the money he received was not enough to sustain his lavish lifestyle. In fact, he used the money for his business ventures, repaying investors and living a luxurious life. His friends were not aware of this scheme, and some even thought that he was an innocent man who was merely inept. They did not know that he was a fraudster.
As a film distributor, Horwitz made millions of dollars in the last decade. He was even jailed for 20 years and ordered to pay back more than $230 million to his victims. His business activities included acting in horror films under the screen name Zach Avery, and selling the rights to streaming platforms. This landed him in jail and forced him to repay his investors. A year later, he was caught with securities fraud and is now facing prison.