(Newser)

“Red Flag!!” wrote a steel company executive in a 2017 email. Unfortunately for him, it was one he spotted but then seems to have ignored. In a lengthy piece for the Los Angeles Times, Michael Finnegan delves into the events that proceeded the arrest of Zachary Horwitz, a D-list actor who was arrested earlier this month and accused of running a $690 million Ponzi scheme that ensnared the aforementioned exec and many others. Horwitz’s company 1inMM Capital claimed it would buy the distribution rights to cheap movies and then resell them to Netflix, Sony, and HBO, which would then distribute the movies in Latin America—and get 1inMM…

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