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The actor allegedly used money from the Ponzi scheme to buy $ 6million house in Los Angeles and pay off credit card debt

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In 2018, Zachary Joseph Horwitz, who acts as Zach Avery, bought a $ 6 million home in Los Angeles.

He was then arrested earlier this week and charged with fraud.

The home, which is now marked as for sale with a pending offer, is listed on Zillow as a six bedroom, eight bath, 7,670 square foot “traditional estate reinvented by famous designer Lonni Paul.”

The house has an adjoining swimming pool and Jacuzzi, a cabin with fireplace, a chef’s kitchen, a “private master suite with personalized wardrobes and a spa-style master bathroom” and a “refrigerated wine cellar of 1000 bottles”, according to the Zillow list.

Photos on Zillow show a living room that opens onto a covered outdoor patio; a grand piano under a beautiful chandelier and a massive abstract work of art; a home theater with ten plush recliners and a sectional; and a home gym worthy of a luxury hotel.

According to his IMDb Profile, Horwitz has 15 acting credits to his name. Four of them are for shorts; about half of them for unnamed extras.

Yet after Horwitz bought the house, he also “wired two payments of $ 70,000 to Lonni Paul Design for a down payment / sofa / side table,” according to a criminal complaint filed Monday by the Securities and Exchange. United States Commission in United States District Court. for the Central District of California.

And a week before Horwitz bought his gorgeous Beverlywood estate, he paid off nearly $ 300,000 in credit card debt, according to the complaint.

Horwitz quickly paid American Express in three installments: first, he put $ 70,328.05 on the card, then $ 57,351.25, and finally $ 164,241.06, according to the criminal complaint.

The influx of money, prosecutors said, belonged to investment groups. Horwitz reportedly told them their money would multiply safely because he would buy the distribution rights to films, which he said he would “license to major online platforms such as Netflix or HBO,” according to the criminal complaint.

Horwitz, 34, is accused of defrauding five groups of investors, when most of the funds he acquired came from a private company. He would send bogus annual reports to investors in his fraudulent company, 1inMM Capital, with a graphic of a non-existent film library, prosecutors say.

Some of the money Horwitz earned in the alleged $ 227 million “was used to reimburse investors for past investments … in accordance with a Ponzi scheme,” according to the affidavit. “In some cases, investors have been reimbursed with their own money,” the complaint says.

He must have started paying them something, prosecutors said, because in 2019 investors started complaining.

But when Horwitz was unable to pay investor dividends, he processed the emails to make it look like they came from executives at HBO and Netflix explaining the delay in funds, according to the criminal complaint. Netflix and HBO have denied that their companies have engaged in any business with Horwitz or 1inMM Capital, according to the affidavit.

In February, Netflix sent a cease and desist letter to Horwitz asking him to “stop making false statements about his dealings with Netflix,” prosecutors said. But he reportedly continued to forge emails to make it look like they came from Netflix, telling investors why they weren’t reimbursed.

Horwitz was taken into custody Tuesday by FBI special agents for wire fraud, the U.S. Attorney’s Office in the Central District of California said in a report. declaration.

Federal authorities have called for the criminal complaint to be sealed, arguing that since Horwitz began selling his house and “not all of the proceeds from his fraud scheme have been found,” he is a risk of absconding.

But court documents show a judge on Tuesday ordered the case to be opened.

Even though the house is for sale, Horwitz still occupies it, according to the criminal complaint. And Horwitz has not implemented mail forwarding, according to the complaint.

He is due in court on April 19.

His lawyer, Anthony Pacheco, did not respond to repeated requests for comment on Wednesday and Thursday.

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