Zach Avery's attempts to enter the swindling market failed when he was caught red-handed in a multi-million dollar Ponzi scheme, scamming investors of millions. On the bright side, he did get his five minutes of fame as the infamous "Hollywood grifter," as he cashed in on the show business market and booming streaming platform services.
Avery, originally known as Zachary Horwitz, is a young B-movie actor who desired a taste for the high life. But his methods of acquiring fame in Tinseltown brought him down, along with his company, 1inMM Productions, after he defrauded private investors by promising them licensing deals from Netflix and HBO. The defrauded amount varies from one report to another, with some stating an estimate of $227 million and others reporting $690 million.
As per the US Attorney's Office, his five-year scam started in 2015 when Avery sent financiers "fake license agreements, as well as fake distribution agreements with the two streaming platforms, all of which contained forged or fictional signatures" to make it seem credible.
While it's possible to say that Zach Avery got his share of the limelight only after being exposed in the scamming act, he did have a fair share of on-screen experiences. Here's everything to know about the actor's life prior to the infamous scandal, ahead of the scam feature on ABC's The Con this Thursday.
All about Zach Avery's Hollywood life and acting career
Zachary Horwitz aka Zach Avery, a California native who was born on December 5, 1986, spent his childhood moving between Florida and Indiana. Avery made his acting debut soon after graduating with a Bachelor's degree in Psychology from the University of Indiana.
In a 2019 cover story, speaking about his move from Chicago to Hollywood, the actor reportedly said that he moved "with nothing more than his dog, a few suitcases, and a big dream." He also mentioned his wife, Mallory Hagedorn's unending support, who was his then-girlfriend and a hair-stylist. The couple now have two young sons.
Given that Zach made his big break in Hollywood, not how he had initially planned (with his acting skills), but because of the million-dollar fraud scheme, there isn't a lot of mention of his life prior to the Ponzi scheme. However, reports state that his net worth is somewhere around $5 million, no doubt coming from his varying acting credits, including those alongside Brad Pitt and Brian Cox.
As per reports, his acting credits include:
- The Gateway (2021)
- The Devil Below (2021)
- You're Not Alone (2020)
- Last Moment of Clarity (2020)
- Farming (2018)
- The White Crow (2018)
- Trespassers (2018)
- Curvature (2017)
- The Laughing Man (2016)
- Fury (2014)
- Shifter (2014)
- Nameless (2013)
- Feign (2012)
- Game Time (2011)
- G.E.D (2009)
ABC's The Con to revisit Zach Avery's Hollywood Ponzi scheme
In 2021, Zach Avery pleaded guilty to one account of federal securities fraud charges and was sentenced to 20 years in prison earlier this year. He is also expected to pay a restitution amount of $230 million. ABC's The Con is currently scheduled to revisit the Ponzi scheme. The episode titled The Hollywood Mogul Con will air this Thursday, August 4, 2022, at 10 pm ET. The synopsis states:
"In 2018, Zach Horowitz, a 28-year-old actor working under the stage name “Zach Avery,” unleashed a Ponzi scheme on the film industry. He raised more than $690 million from 'five principal investors' using legally binding debt agreements in the form of promissory notes."
It also talks about the production company and his fraud:
"Horowitz started soliciting money from investors on behalf of 1inMM Productions, his film production company, which was backed by fake distribution deals and the fake rights agreements."
It adds:
"He borrowed money for six months to a year promising a return of up to 40 percent on the investment, telling investors the production intended to use their money to secure the distribution rights to various films in regional geographies and then sell those rights to streamers such as Netflix and HBO."
It further states the FBI's involvement and charges made against him:
"The con was up when F.B.I. agents arrested Horowitz at his $5.7 million home in Beverlywood. The Securities and Exchange Commission charged him with securities fraud, seeking an immediate freeze of his assets and the return of 'ill-gotten gains.'"
Tune in to The Con on ABC this Thursday and watch Zach Avery scam wealthy investors, making way towards the high life in Hollywood.