Zachary Horwitz, an American actor, was sentenced to 20 years in prison on Monday, February 14.  Horwitz stole $650 million in a massive Hollywood Ponzi scheme and used the money to fund a luxury lifestyle that included yachts, aircraft, and fast vehicles.

He made claims of contracts with HBO and Netflix to deceived investors into turning over large sums of money, which he spent on private flights, automobiles, and a luxurious Los Angeles residence with a wine cellar.

According to the Department of Justice, his persecutor said, “Horwitz portrayed himself as a Hollywood success story.

“The actor branded himself as an industry player, who… leveraged his relationships with online streaming platforms like HBO and Netflix to sell them foreign film distribution rights at a steady premium.

“But, as his victims came to learn, (Horwitz) was not a successful businessman or Hollywood insider. He just played one.”

Horwitz, who played Zach Avery in a horror movie, convinced investors that he was buying foreign distribution rights for American films and then selling them to streaming sites.

The 35-year-old handed each victim a document promising a significant profit in six to twelve months.

He kept the program going for seven years by utilizing new investors’ money to reimburse the old ones.

Over $230 million had disappeared as at the time of the program’s crashing.

In October 2021, he pled to security fraud and admitted that he had never purchased any film rights or signed any distribution contracts.

According to the Los Angeles Times, the prosecutors wrote in a letter to the judge that it would be “difficult to conceive a white-collar crime more egregious,” noting that he began his criminal career by defrauding university buddies.

“He began by betraying the trust of his own friends, people who lowered their guard because they could not possibly imagine that someone they had known for years would unflinchingly swindle them and their families out of their life savings.”

Horwitz was sentenced to 20 years in prison and ordered by Judge Mark Scarsito to compensate his victims with $230 million.