Joker-Backed Producer Arrested in $100 Million Ponzi Scheme

Hollywood producer Jason Cloth, a financier behind Joker projects and head of Creative Wealth Media, was arrested in Los Angeles on seven counts of wire fraud in a federal indictment alleging a years-long $100 million Ponzi scheme that defrauded investors by misrepresenting investment performance and diverting funds to personal ventures, including a Canadian real estate project. Prosecutors say new investor money was used to pay earlier investors; Cloth previously faced a $19.6 million Florida verdict in 2024 over a related fraud case. The indictment seeks at least $12.25 million in forfeiture and carries up to 20 years in prison per count; the FBI is probing potential victims.