Joker-Linked Financier Indicted in $100 Million Ponzi Scheme

Jason Cloth, a Hollywood financier with producing credits on Joker and Babylon, was indicted in Chicago on seven counts of wire fraud for allegedly raising about $100 million from investors and diverting it to a Canadian real estate venture instead of funding film projects; his firm Creative Wealth Media Finance had previously faced Ontario Securities Commission actions and bankruptcy in Canada, and investors have filed suits alleging he swindled funds. The indictment seeks reimbursement of $12.25 million; Cloth has faced other legal actions including a Florida judgment, and the FBI is seeking additional victims.