Intro

Zachary Horwitz, also known by his stage name Zach Avery, a Los Angeles-based actor and movie investor, was arrested on Monday, April 5, on charges of operating a Ponzi scheme that resulted in at least 200 investors losing $227 million.

Zachary Horwitz: Family Life

Horwitz, 34, was born on December 5, 1986, in Los Angeles, USA. His parents divorced when he was 10 years old. After that, he shifted to Fort Wayne, Indiana and he grew up along with his mother and step-father.

Qualification

After graduating from university, he enrolled in the Chicago School of Professional Psychology’s doctoral program.

Journey of Life

Mr. Horwitz has acted in low-budget films including ‘The Devil Below’ (2021), in which he played Jaime. According to the actor’s IMDb website, he played football for Indiana University but was unable to make it to the NFL due to an injury.

He landed small roles in big-budget films, such as an uncredited role as an SS medic in Brad Pitt’s 2014 film “Fury,” and bigger roles in independent films, such as the 2017 sci-fi film “Curvature,” which Variety panned as a “derivative metaphysical thriller.”

Horwitz seemed to be making big moves in the film production game, even though his on-screen career wasn’t taking off. The actor began luring investors to 1inMM Capital in 2014, according to the SEC, by offering fast returns of 35 to 45 percent.

Arrested

According to Variety, Horwitz believed that the investors’ money would be used to “buy rights to films that HBO and Netflix had signed on to distribute internationally, especially in Latin America.” On Tuesday, April 6, he appeared in US District Court on a wire fraud charge that carries a statutory maximum sentence of 20 years in prison, according to reports.

Horwitz, according to a lawsuit lodged this week by the US Securities and Exchange Commission, had no association with Netflix or HBO and instead fabricated documents and lied to investors while misappropriating millions to fund his lavish lifestyle.

Horwitz and his company, 1inMM Capital, had their assets were frozen by the SEC, which accused them of breaching anti-fraud laws. According to the Los Angeles Times, he was arrested by the FBI at his Beverlywood mansion on Tuesday morning.

Horwitz’s lawyer, Anthony Pacheco, did not immediately respond to a message left for him by The Washington Post on Wednesday morning. Horwitz told a judge in a video hearing from a Los Angeles jail on Tuesday that he recognized the charges he was facing, according to the New York Times.

According to federal investigators, there were no distribution rights, and Horwitz never sold any films to Netflix or HBO. Instead, he used the new funds to repay existing investors. According to the SEC, he earned more than $690 million between 2014 and 2019.

The system, however, began to crumble by late 2019, according to investigators. Horwitz reportedly scrambled to keep investors happy in 2020 by alleging HBO had refused to pay for an agreed-upon contract and implying he was trying to sue the television giant.

He then listed his home for $6.5 million on the market.

Prosecutors requested to hold Horwitz in detention on Tuesday, claiming that millions of dollars are missing. According to the New York Times, a judge decided to release him on a $1 million secured bond.

The Securities and Exchange Commission has scheduled a court hearing for later this month to decide if it can keep its assets frozen.

How Rich is Zachary Horwitz?

He has a net worth of around $20 million USD. He is being investigated for running a Ponzi scheme that defrauded several people.

Zachary Horwitz: Personal Life

Horwitz is married to Mallory Avery. The couple has a child together whose name is unknown.

Body Status

He has a height of 6 ft. and has hazel eyes and short black hair.

Zachary Horwitz: Social Media Followers

He is not active on any social networking sites such as Facebook, Instagram, Twitter, etc.

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