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Jason Cloth

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legal1 hour ago•15 min saved

Producer Behind Joker and Longlegs Faces $100M Ponzi Fraud Charges

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.

via Deadline|

#fraud-charges #jason-cloth #joker

business1 hour ago•3 min saved

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.

via New York Post|

#business #fraud #hollywood