The 35-year-old actor was charged in federal court in downtown Los Angeles after pleading guilty in the case last October. The judge also ordered him to pay $230 million in restitution..
“I missed out,” Avery told US District Court Judge Mark Scarsi before sentencing, calling himself a “broken, imperfect man.”
A woman sitting with Horwitz’s family burst into loud sobs when she was given the prison sentence, reported The Rolling Stones. In contrast to one of the actor’s victims who testified during the hearing and seemed pleased with the long sentence but shook his head in disgust when the judge said Horwitz, who has two young children, could wait until March 14 to turn himself in.
The actor’s attorneys had asked for leniency during back-and-forth arguments that touched on claims that Horwitz suffers from bipolar disorder and addiction problems.
The Convicted Swindler, who had roles in scary movies The Devil Below (2021) and You’re Not Alone (2020) under the name of Zach Averybegan his “massive” Ponzi scheme in 2014, prosecutors said, falsely telling clients he was so well connected in the entertainment industry that he could acquire movie titles for overseas distribution and then license the properties to HBO,Netflix and other major carriers in deals that offer eye-popping returns of 25 to 40 percent.
In reality, Avery used that money to lead a lavish lifestyle in Hollywood, filled with yacht and private plane rentals, parties in Las Vegas, luxury cars, and the purchase of a $5.7 million mansion with a pool, gym in home, and private screening room outside of Beverly Hills, authorities said.
According to an FBI affidavit, Horwitz spent more than $6.9 million on American Express credit card bills, more than $345,000 on chartered planes and boats, and more than $604,000 on Merceds-Benz and Audi vehicles.
Three victims addressed the court in person Monday, including Robert Hennya screenwriter who said he lost $1.8 million in a Ponzi scheme he described as “devastating” and an “endless nightmare.”
According to his plea agreement with prosecutors, Horwitz tricked an Illinois investor into sending $1.4 million in December 2018 for a bogus deal that purported to purchase certain international distribution rights to Active Measures, a real-life documentary exploring the alleged collusion between the Trump campaign and Russia.
According to documents filed in the case, Horwitz provided his victims with copies of fabricated licensing and distribution agreements with forged or fictitious signatures. When his company 1inMM Capitalbegan defaulting in 2019, Horwitz “doubled down on his lies,” blamed streaming platforms, and produced spoofed emails with the addresses “@hbo.com” and “@netflix.com” to “calm” his investors and make them think his money was safe, prosecutors said.
Source: Ambito
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