Film producer Jason Cloth, known for financing movies like “Joker” and “Ghostbusters: Afterlife,” has been indicted on wire fraud charges. Prosecutors say he ran a $100 million Ponzi scheme. The indictment was unsealed Tuesday in Chicago. Cloth was arrested in Los Angeles the same day. Prosecutors allege he solicited money from investors for films or video games but used it for other projects. Cloth is charged with seven counts of wire fraud, each carrying up to 20 years in prison. The FBI is asking potential victims to contact their Chicago office. Attorneys representing Cloth in other legal matters did not immediately respond to a request for comment.
From
To
AP Wire