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Hollywood Finance

All articles tagged with #hollywood finance

film-industry3 months ago•8 min saved

Olivia Wilde Labels Studio Streaming Deals as 'Bribes' to Producers

Olivia Wilde stated at the Locarno Film Festival that studios attempt to bribe financiers to bypass theatrical releases for streaming. She argued that while filmmakers may not receive extra money, financiers are offered significantly higher payouts to shift films to digital platforms. Wilde praised A24 for supporting the theatrical run of her film The Invite, noting that comedies benefit most from communal viewing. The film, starring Seth Rogen, Penélope Cruz, and Edward Norton, received strong reviews and a modest box office performance after its June release.

via A.V. Club|

#a24 #film-industry #hollywood-finance

business3 months ago•8 min saved

Hollywood Financier Jason Cloth Indicted in $100M Wire Fraud Scheme

Jason Cloth, a prominent film financier with credits on 'Joker' and 'Ghostbusters: Afterlife,' has been indicted on seven counts of wire fraud. Federal prosecutors allege he defrauded investors of over $100 million through his company, Creative Wealth Media, by diverting funds to personal ventures and repaying earlier investors. Cloth faces up to 20 years in prison per count and a forfeiture of at least $12.25 million.

via The Hollywood Reporter|

#business #creative-wealth-media #hollywood-finance

crime-and-justice3 months ago

Hollywood Financier Jason Cloth Indicted in Chicago for $100M Wire Fraud Scheme

Hollywood producer Jason Cloth has been indicted in Chicago on seven counts of wire fraud for allegedly defrauding investors of over $100 million. Federal prosecutors allege that from 2019 to 2026, Cloth used his Toronto-based firm, Creative Wealth Media Finance Corp., to solicit funds for film and gaming projects but instead diverted the money to a Canadian real estate venture and to repay earlier investors in a Ponzi scheme. Cloth, who holds executive producer credits on 'Joker' and 'Ghostbusters: Afterlife,' was arrested in Los Angeles and faces up to 140 years in prison if convicted on all counts. The indictment seeks the forfeiture of at least $12.25 million, while the FBI has launched a campaign to identify additional victims.

via ABC7 Los Angeles|

#creative-wealth-media #crime-and-justice #hollywood-finance

legal-and-business3 months ago•10 min saved

Hollywood Financier Jason Cloth Indicted in $100M Fraud Scheme

Jason Cloth, a financier with executive producer credits on major films like 'Joker' and 'Babylon,' has been indicted in Chicago on seven counts of wire fraud. Prosecutors allege he orchestrated a $100 million Ponzi scheme by diverting funds meant for film and gaming projects to repay earlier investors and fund a Canadian real estate venture. Cloth was arrested in Los Angeles and faces up to 140 years in prison if convicted on all counts.

via Variety|

#creative-wealth-media #hollywood-finance #jason-cloth