NewzFederal prosecutors accuse Cloth of diverting funds meant for films and TV shows to other purposes, including to repay prior investors. A Hollywood movie producer was arrested this week after federal prosecutors in Illinois charged him with defrauding investors of more than $100 million in an alleged Ponzi scheme. Jason Cloth, a financier with executive producer credits on “Joker,” “Babylon,” and “Ghostbusters: Afterlife,” has been indicted in Chicago on allegations that he ran a $100 million Ponzi scheme.
Cloth, 60, faces seven counts of wire fraud for allegedly lying to investors about how their money would be used. According to the indictment, he took […] CHICAGO — His film credits include producer titles in blockbuster movies including "Joker," "House of Gucci" and "Ghostbusters: Afterlife;" but now Jason Cloth has another title — alleged fraudster whose victims include people from the Chicago area.
A Chicago grand jury indicted Cloth on seven counts of wire fraud. The Canadian film producer and financier [...] A Los Angeles film producer credited on the Oscar-winning film "Joker" has been indicted on federal fraud charges alleging he orchestrated a scheme that defrauded investors of more than $100 million, according to the U.S.
A federal grand jury in Chicago indicted Jason Cloth, 60, of Beverly Hills, on seven counts of [...]
Summary from source