Jason Cloth Faces Wire Fraud Charges In Alleged $100 Million Scheme
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Jason Cloth Faces Wire Fraud Charges In Alleged $100 Million Scheme
A federal grand jury in Chicago has indicted Hollywood producer Jason Cloth, 60. Federal agents arrested Cloth in Los Angeles on allegations that he ran a $100 million Ponzi scheme over seven years. The Charges Are Serious Cloth started a company in Toronto, Canada, called Creative Wealth Media Finance Corp, and the idea was to finance movies. But now he faces seven counts of wire fraud, and each count could end in up to 20 years behind bars. On…
Hollywood financier behind ‘Joker’ indicted on federal wire fraud charges in alleged $100 million Ponzi scheme
A federal grand jury has indicted film producer Jason Cloth on seven counts of wire fraud for allegedly running a $100 million Ponzi scheme disguised as Hollywood investment deals, adding criminal charges to a growing trail of civil fraud findings and regulatory actions across multiple countries. Cloth, 60, was arrested in Los Angeles after the...
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