Actor Zach Avery has been sentenced to 20 years in prison for an elaborate Ponzi scheme that raised at least $650 million.
The money was used to fund his lavish lifestyle and his $6 million home. According to reports, the 35-year-old actor lured nearly 200 investors into his scam with fake film licensing deals for upcoming projects by HBO and Netflix.
Zach Avery -- real name Zachary Joseph Horwitz -- is best known for his co-starring role in Hell is Where the Home Is, a film that was produced by his company, 1inMM Capital LLC. Upon his arrest back in April 2021, prosecutors accused Avery of collecting hundreds of millions in loans for this film company from 2014 to 2019.
While there is still no word on whether or not any of his immediate family members had any knowledge or involvement in the ordeal, it should be noted that a few of his relatives were victims of this scheme.
During his acting career, Avery appeared in other low-budget films (Last Moment of Clarity, The White Crow, Trespassers, and The Devil Below) or had minor roles in major films such as Brad Pitt's Fury. In addition to his 20-year sentence, Avery has been ordered to pay back more than $230.3 million.
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Source: EW
