Producer Behind Joker and Longlegs Faces $100M Ponzi Fraud Charges
TL;DR Summary
Jason Cloth, the Beverly Hills producer behind Joker and Longlegs, has been charged in a federal $100 million Ponzi scheme involving Creative Wealth Media Finance Corp, allegedly deceiving investors with false projections and using funds for other ventures including real estate; arrested in Los Angeles, Chicago prosecutors’ indictment seeks at least $12.25 million in forfeiture, and Cloth faces seven counts of wire fraud with potential penalties up to 20 years per count.
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