Zachary Horwitz acted in small-time horror films under the name Zach Avery. Photo: Handout
An American actor who swindled US$650mil (RM2.7bil) in a huge Hollywood ponzi scheme, using it to finance a lavish lifestyle of yachts, jets and fast cars, was jailed Monday for 20 years.
Zachary Horwitz created fake contracts that he told investors were with HBO and Netflix to trick them into handing over vast sums of money, which he splurged on private flights, top-of-the-range autos and a luxury Los Angeles mansion, complete with a wine cellar.
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