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Jason Cloth

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business1 month ago•15 min saved

Canadian Producer Jason Cloth Indicted in $100 Million Film-Finance Fraud

Canadian financier and producer Jason Cloth was indicted in Chicago on seven counts of wire fraud for allegedly diverting over $100 million from investors through Creative Wealth Media and related entities, funds used for other projects and to repay prior investors. Cloth had stepped down as co-head of C2 Motion Picture Group in 2024 amid fraud allegations and was arrested in Los Angeles; the case ties to Bron Studios’ bankruptcy and several lawsuits accusing him of shuffling investments. He faces up to 20 years in prison on each count and potential forfeiture of at least $12.25 million.

via The Hollywood Reporter|

#bron-studios #business #creative-wealth-media

business1 month ago•2 min saved

Hollywood Producer Indicted in $100 Million Investment Fraud Scheme

Hollywood producer Jason Cloth, known for Joker, was indicted in Chicago on seven counts of wire fraud for allegedly running a Ponzi-like scheme that defrauded investors of more than $100 million through Creative Wealth Media Finance Corp., using funds for other ventures including Canadian real estate and to pay back earlier investors; he was arrested in Los Angeles and faces up to 20 years per count, with at least $12.25 million in forfeiture sought.

via ABC7 Los Angeles|

#business #doj #fraud

legal1 month 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 month 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