World

Actor Zach Avery sentenced to 20 years for Ponzi plot

Zachary Horwitz, a small-time actor who admitted running a multi-million dollar Ponzi scheme, was sentenced to 20 years in federal prison on Monday.

The Justice Department said in a press release that Horowitz “raised at least $650 million with bogus claims that investor funds would be used to purchase licensing rights to the films.” which HBO and Netflix have agreed to distribute abroad.”

HBO, like CNN, is part of WarnerMedia.

In October, Horowitz pleaded guilty to federal securities fraud and admitted to running the Ponzi scheme.

He received a 240-month prison sentence, according to a Monday release, and must pay more than $230 million in restitution. CNN has reached out to Horwitz’s attorney for comment.

Horwitz, 35, allegedly left some money in his personal account and used the money to buy a personal apartment with a cash value of about $5.7 million, take trips to Las Vegas and flew on a chartered jet, according to the complaint. Securities and Markets Commission.

Horwitz — better known by the stage name “Zach Avery” — has spent the past decade acting in about a dozen mostly low-budget films, including “The Intruder” and “White Crow,” according to the filing. His IMDb. He also had an uncredited small role in “Fury,” which starred Brad Pitt.

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