INVESTOR ALERT: LKLSG Investigating Potential Lawsuit Relating to Alleged $690 Million Ponzi Scheme by Actor Zachary Horwitz

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CHICAGO, April 12, 2021 /PRNewswire/ -- In a recently filed enforcement lawsuit, the Securities and Exchange Commission ("SEC") alleges that Los Angeles-based actor Zachary J. Horwitz, through his company 1inMM ("1inMM"), perpetrated a $690 million Ponzi Scheme against hundreds of unwitting investors.

An actor credited as "Zach Avery" in movies such as Fury and The White Crow, Horwitz allegedly raised money through word-of-mouth referrals. Horwitz offered investors promissory notes with guaranteed returns of between 35% and 45%. Horwitz allegedly told investors that 1inMM would use the proceeds from the notes to acquire movie distribution rights and license them to media companies for a profit.

Horwitz allegedly told investors that he had longstanding relationships with executives at HBO and Netflix. In truth, according to the SEC, he had no such relationships and 1inMM had no distribution deals. The SEC alleges that Horwitz used new investor funds to pay principal and interest to previous investors in a classic Ponzi scheme.

Horwitz allegedly used some of the funds for personal use, including a multimillion-dollar residence, lavish gambling trips, chartered jets and luxury cars.

Chicago-based JJMT Capital, LLC ("JJMT") was the largest investor in the 1inMM scam, investing approximately $485 million, most of which JJMT obtained from outside investors who signed promissory notes with JJMT. According to declarations filed in the SEC's lawsuit, approximately $165 million in JJMT investors' principal has not been repaid by 1inMM. JJMT's principals, Joseph DeAlteris, Jacob Wunderlin and Matthew Schweinzger, met Horwitz while attending Indiana University in the late 2000s.

According to the SEC, large investments were made in 1inMM by other investor groups, including Movie Fund, LLC of Las Vegas; SAC Advisory Group, LLC of Pleasant Hill, California; Vausse Films of Manhattan Beach, California; and Pure Health Enterprises, Inc. of Napa, California. Among all investors, unpaid principal is at least $234.7 million.

The law firm of Levine Kellogg Lehman Schneider + Grossman LLP ("LKLSG") in Miami is investigating potential legal action designed to help victims of the Horwitz/1inMM scam. If you purchased promissory notes from 1inMM or any of the investor groups, please contact attorney Jason Kellogg at the information above or through LKLSG represents clients nationwide.

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About Levine Kellogg Lehman Schneider + Grossman LLP
LKLSG is a Miami-based commercial law firm providing focused, efficient, and hands-on representation in high-stakes legal proceedings including complex commercial litigation, class actions, bankruptcy and receiverships, lender/borrower litigation and workouts and labor and employment litigation.


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