A sometime actor who lives in Beverlywood pleaded not guilty Thursday to federal charges that he operated a $230 million Ponzi scheme based on false claims that investor money would be used to acquire licensing rights to films that HBO and Netflix had agreed to distribute overseas.
Zachary Horwitz, 34, who is credited as “Zach Avery” when acting in films, was charged by a federal grand jury with multiple counts of securities fraud, wire fraud and aggravated identity theft, according to the U.S. Attorney’s Office.
Trial was set for June 29, but that date is expected to change.
Horwitz was arrested April 6 and initially held on a $1 million bond before his release.
According to the indictment, Horwitz solicited investors to invest in his company — 1inMM Capital — which he claimed would use the funds to purchase distribution rights to films and then license the rights to online platforms such as Netflix and HBO for…