When he was exposed as the mastermind of a multi-million dollar Ponzi scheme that defrauded investors of millions of dollars, Zach Avery’s attempts to break into the scam industry failed. On the plus side, he did profit from the burgeoning streaming platform services and the show business sector, earning himself his five minutes of fame as the famed “Hollywood grifter.”
Young B-movie star Avery, once known as Zachary Horwitz, yearned for a taste of the good life. However, his strategies for becoming famous in Hollywood ultimately lead him and his business, 1inMM Productions, to ruin when he conned private investors by promising them license deals with Netflix and HBO. The amount of fraud varies from report to report; some put the number at $227 million, while others put it at $690 million.
The US Attorney’s Office claims that Avery began his five-year fraud in 2015 by sending funders “false license agreements, as well as fraudulent distribution agreements with the two streaming platforms, all of which featured faked or fictional signatures” to make it seem legitimate.
Even while it’s conceivable to argue that Zach Avery only experienced his fair share of fame after getting discovered in the scamming act, he did have a variety of on-screen encounters. Before this Thursday’s scam episode of ABC’s The Con, here is everything you need to know about the actor’s life before the infamous controversy.
Zach Avery’s Hollywood life and acting career in full detail
Born in California on December 5, 1986, Zachary Horwitz, also known as Zach Avery, spent his early years bouncing between Florida and Indiana. Soon after receiving his Bachelor of Psychology from the University of Indiana, Avery made his acting debut.
The actor reportedly stated in a 2019 cover story that he traveled “with nothing more than his dog, a few suitcases, and a great goal” from Chicago to Hollywood. Mallory Hagedorn, his then-girlfriend and a hairstylist, was acknowledged along with her unwavering support for him and his wife. Two little sons belong to the couple currently.
There isn’t much discussion of Zach’s life before the Ponzi scam because his big break in Hollywood didn’t happen the way he had originally intended (with his acting abilities), but rather because of the million-dollar fraud scheme. But according to sources, his net worth is somewhere in the neighborhood of $5 million. This is undoubtedly due to his numerous acting roles, including those he’s had with Brad Pitt and Brian Cox.
According to sources, his acting experience includes:
The entrance (2021)
Below is the Devil (2021)
It’s Not Just You (2020)
One final moment of truth (2020)
Farming (2018)
White Crow (2018)
Trespassers (2018)
Curvature (2017)
Laughing Man, The (2016)
Fury (2014)
Shifter (2014)
Nameless (2013)
Feign (2012)
Sport Time (2011)
G.E.D (2009)
Zach Avery’s Hollywood Ponzi scam will be explored in ABC’s The Con.
Zach Avery was charged with one count of federal securities fraud in 2021 and pled guilty; earlier this year, he was given a 20-year jail term. In addition, he must pay $230 million in restitution. The Ponzi scheme will be brought up again on ABC’s The Con. The Hollywood Mogul Con, an episode, will show this Thursday, August 4, 2022, at 10 p.m. ET. The summary reads:
“Using the alias “Zach Avery,” actor Zach Horowitz, 28, launched a Ponzi scheme on the movie business in 2018. He used legally binding debt contracts in the form of promissory notes to raise more than $690 million from “five key investors.””
Additionally, the production firm and his scam are discussed:
“Horowitz started approaching investors for funding on behalf of 1inMM Productions, his movie-making business, which was supported by phony rights agreements and phony distribution agreements.”
Added is:
He took out loans for six to a year, promising investors a return of up to 40% on their money. Investors were told the production planned to use their money to purchase the distribution rights to a number of films in local markets before selling those rights to streaming services like Netflix and HBO.
It also details the FBI’s involvement and the accusations levied against him:
“When F.B.I. officers apprehended Horowitz at his $5.7 million Beverlywood house, the fraud was over. He was accused of securities fraud by the Securities and Exchange Commission, which also demanded the immediate freezing of his assets and the restitution of any “ill-gotten riches.””
This Thursday, watch as Zach Avery connives to get rich by defrauding wealthy investors on ABC’s The Con.