An aspiring actor pleaded guilty Monday to running a massive Ponzi scheme that raised at least US$650 million from investors in phony Hollywood film licensing deals.
Zachary Joseph Horwitz, 34, of Los Angeles, entered a plea to a federal charge of securities fraud and could face up to 20 years in prison when he's sentenced in January, according to a statement from the U.S. attorney's office.
Prosecutors alleged that from 2014 to 2019, Horwitz secured hundreds of millions of dollars in loans for his film company, 1inMM Capital LLC, by falsely claiming the money would be used to buy distribution rights to movies that would then be licensed for distribution to streaming platforms such as Netflix and HBO.
Instead, Horwitz used some of the money to repay earlier investors in a classic Ponzi scheme and to support a lifestyle that included buying a $6 million home, prosecutors said.
More than 200 investors, including three of Horwitz's closest college friends and their family members, lost about $230 million, authorities said.
Horwitz had appeared in a number of movies, usually in small roles, under the name Zach Avery.
In the second part of a five-part series, W5's Avery Haines follows the journeys of migrants who risk life and limb to ride atop Mexican freight trains, desperate to avoid narco territory as they make their way towards the U.S. border.
The minimum wage in four provinces is going up today.
Hezbollah has denied that Israeli troops have entered Lebanon but says its fighters are ready for a 'direct confrontation' if they cross the border.
Foreign Affairs Minister Mélanie Joly is asking members of the United Nations to counter growing political polarization abroad while taking shots at Conservative rhetoric at home.
A bus carrying young students with their teachers caught fire in suburban Bangkok on Tuesday, with more than 20 of those on board feared dead, officials and rescuers said.
Tim Walz and JD Vance will meet for their first and possibly only vice-presidential debate Tuesday, in what could be the last debate for both campaigns to argue their case before the U.S. election.
TD Bank Group has agreed to pay more than US$28 million after an investigation into manipulation of the U.S. Treasuries market by one of its traders.
Canadian members of Parliament are working with their colleagues in Australia and New Zealand to try and convince their respective governments to jointly recognize Palestinian statehood.
Donald Trump repeatedly spread falsehoods Monday about the federal response to Hurricane Helene despite claiming not to be politicizing the disaster as he toured hard-hit areas in south Georgia.
A B.C. condo owner who was blamed for a cockroach infestation in her building and charged thousands of dollars for the cost of eradicating the bugs must be refunded, the civil resolution tribunal ruled.
Ottawa must do more to help Canadian citizens leave Lebanon, says the son of a Canadian couple killed last week when an Israeli bomb hit their car in the country's south.
Seas of orange shirts have come to represent a growing awareness of Canada's history of oppressing Indigenous Peoples – but that awareness must translate into more "substantive changes" from the government, according to a B.C. chief.
A child was sent to hospital after being attacked by a coyote in northwest Calgary.
Residential school survivors say the federal government is keeping the truth about those institutions in the dark by cutting back on funding for records and ground searches looking for unmarked graves of children who died at the schools.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A man who authorities say spent 12 hours camped outside Donald Trump's golf course before Secret Service spotted him with a rifle pleaded not guilty on Monday to federal charges including attempted assassination.
World leaders headed home from the United Nations with the prospect of a broader Middle East war intensifying and global divisions front and centre.
For the first time in Rwanda’s history, its health ministry is dealing with an outbreak of Marburg virus disease, a rare but deadly hemorrhagic disease similar to Ebola – but unlike Ebola, there is no treatment or vaccines for Marburg, and it has a fatality rate of 88 per cent.
A bus carrying young students with their teachers caught fire in suburban Bangkok on Tuesday, with more than 20 of those on board feared dead, officials and rescuers said.
Donald Trump repeatedly spread falsehoods Monday about the federal response to Hurricane Helene despite claiming not to be politicizing the disaster as he toured hard-hit areas in south Georgia.
Hezbollah has denied that Israeli troops have entered Lebanon but says its fighters are ready for a 'direct confrontation' if they cross the border.
The Bloc Quebecois will try to put the squeeze on the Liberals today by calling for a debate in the House of Commons about increasing old age pension payments for all seniors.
Canadian members of Parliament are working with their colleagues in Australia and New Zealand to try and convince their respective governments to jointly recognize Palestinian statehood.
Canada's foreign ministry expressed alarm about its shrinking ability to counter foreign disinformation online due to limited access to data and the evolving tactics of adversaries, a newly released memo shows.
For the first time in Rwanda’s history, its health ministry is dealing with an outbreak of Marburg virus disease, a rare but deadly hemorrhagic disease similar to Ebola – but unlike Ebola, there is no treatment or vaccines for Marburg, and it has a fatality rate of 88 per cent.
Health Canada issued a recall last week for various sexual enhancement products for containing prescribed drugs like tadalafil and sildenafil.
The fertility rate in Canada reached an all-time low in 2023, and the lowest rate was recorded in British Columbia, according to new data from Statistics Canada.
The two astronauts stuck at the International Space Station since June welcomed their new ride home with Sunday's arrival of a SpaceX capsule.
The space rock — 2024 PT5 — was first spotted in August by astronomers at Complutense University of Madrid using a powerful telescope located in Sutherland, South Africa.
Canadian innovators and technical leaders gathered in Ottawa Thursday to demonstrate the latest cutting-edge technology.
The 50th season of “Saturday Night Live†is off to a strong ratings start and is a record-breaker for the streaming service Peacock.
A New Mexico judge on Monday denied 'Rust' armorer Hannah Gutierrez Reed's request for new trial and upheld her involuntary manslaughter conviction for the 2021 death of cinematographer Halyna Hutchins.
Oasis shocked fans by announcing a reunion tour last month, ending a 15-year hiatus and, presumably, the long-held feud between brothers Liam and Noel Gallagher. But those were only U.K. dates. On Monday, the band shared that they're planning on heading to North America in 2025, too.
The minimum wage in four provinces is going up today.
Three tobacco giants are yet again seeking to extend an order suspending legal proceedings against them, as they negotiate a settlement with creditors in a long-running case involving an order to pay out billions to some 100,000 smokers and their loved ones.
The COVID-19 pandemic and the resetting of the economy that followed it made hourly workers more aware of their value. Some experts think employers should expect to field demands for flexible hours and other workplace incentives even as the labor market weakens.
Have you been caught in a bind, far from home, that could have been avoided with the timely purchase of an insurance package? We want to hear from you.
Kim Ruether lifted her son's eyelid and saw his still, dilated pupil staring at the ceiling as he lay on a stretcher in a northwestern Alberta hospital hallway a decade ago. She says she didn't need a doctor to tell her the boy was dead.
Many people consider eating less meat, be it for health, environmental or animal-welfare reasons. (Livestock accounts for nearly half of agricultural emissions fueling climate change.) But they sometimes hesitate because they are concerned about how they would replace all that lost protein.
Ryan Hunter's athleticism has been on full display since his arrival in the CFL, but the Canadian's versatility is now shining through.
Toronto Raptors team president Masai Ujiri tried to lay to rest rumours that he has friction with Edward Rogers, the executive chair of Rogers Communications, Inc.
Dikembe Mutombo, a Basketball Hall of Famer who was one of the best defensive players in NBA history and a longtime global ambassador for the game, died Monday after a battle with brain cancer, the league announced. He was 58.
General Motors’ Cruise autonomous vehicle division will pay a US$1.5 million penalty after the unit failed to fully report a crash involving a pedestrian, the National Highway Traffic Safety Administration said Monday.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.
On Saturday night at her parents’ home in Delaware, Ont. the Olympic bronze medallist in pole vault welcomed everyone who played a role in getting her to the podium in Paris.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.
A pizza chain in Edmonton claims to have the world's largest deliverable pizza.
Sarah McLachlan is returning to her hometown of Halifax in November.
Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.
A man from a small rural Alberta town is making music that makes people laugh.
An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.
Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.
A fire in South Vancouver Monday completely destroyed one home and caused damage to two others, according to officials, who said no one was injured in the blaze.
The Department of National Defence is warning boaters to avoid a small island southwest of Victoria this week as the military conducts routine, but potentially dangerous, demolition training.
The New Democrats are campaigning for another term in British Columbia's provincial election but without many of the familiar faces that have graced lawn signs of elections past.
One male is dead following a shooting in North York, Toronto police say.
Peel police say one person is dead and two others are in hospital following an incident in Mississauga early Tuesday morning.
Those earning minimum wage in Ontario will now make more money per hour. The annual wage increase is tied to inflation and jumps to $17.20 per hour on Tuesday, marking a 3.9 per cent increase from the previous rate of $16.55 per hour.
On the National Day for Truth and Reconciliation, hundreds took part in a walk in honour of an Indigenous man who died in police custody two weeks ago.
Five people were rushed to hospital after a gas well fire northwest of Calgary Monday afternoon.
The Calgary police homicide unit is investigating after two people were found dead in a home in the community of Penbrooke Meadows.
The city has implemented a new three item garbage limit on all households that receive curbside collection as part of a plan to reduce the amount of waste heading to the landfill and to help extend the life of the Trail Road Waste Facility until 2049.
The stretch of unseasonably warm temperatures continues into October, as the days continue to get shorter.
Health Canada has granted a three-year exemption under the Controlled Drugs and Substances Act to one of Lowertown's safe consumption sites that will allow the facility to continue operating.
A group of 23 bilingual municipalities in Quebec has asked a Superior Court judge to suspend the application of several portions of the province's 2022 language reform, known as Bill 96. Lawyer Julius Grey says the law will have "enormous consequences" for cities that have the right to serve citizens in both English and French.
A 19-year-old man convicted of killing a Montreal teenager outside his school in October 2021 was sentenced to six years on Monday.
Several windows were damaged and spray painted with 'Free Gaza' during a protest at Concordia University Sunday night, Montreal police say.
A pair of city events held on Monday, among several others in the region, helped residents mark the fourth annual National Day for Truth and Reconciliation.
Kim Ruether lifted her son's eyelid and saw his still, dilated pupil staring at the ceiling as he lay on a stretcher in a northwestern Alberta hospital hallway a decade ago. She says she didn't need a doctor to tell her the boy was dead.
If you're struggling to find a name for your baby, you may find some inspiration in a new list of popular names.
The minimum wage in four provinces is going up today.
Ottawa must do more to help Canadian citizens leave Lebanon, says the son of a Canadian couple killed last week when an Israeli bomb hit their car in the country's south.
More than a hundred people marched on Cape Breton’s Membertou First Nation on Monday – the fourth National Day for Truth and Reconciliation.
Thousands of Manitoba Hydro customers are without power Monday after strong winds barrelled through parts of the province overnight.
Residents in Tadoule Lake, Man., and Churchill can expect to see heavy rain trickle in Sunday afternoon, lingering until Monday evening.
Canadian Space Agency astronaut Jeremy Hansen touched down in Winnipeg this week, ahead of his lunar mission set to launch in a year’s time.
Premier Scott Moe has confirmed that the writ will be dropped Tuesday morning – officially kicking off campaigning prior to the provincial election on Oct. 28.
Exclusive polling data collected by Â鶹´«Ã½ in partnership with Insightrix outlines what preferences voters have, if they’re familiar with the party leaders and what issues matter most as Saskatchewan enters into the 2024 provincial election campaign.
With the writ for Saskatchewan's provincial election set to be issued on Tuesday and election day scheduled for Oct. 28, residents have approximately one month to decide which MLA to vote for.
Those earning minimum wage in Ontario will now make more money per hour. The annual wage increase is tied to inflation and jumps to $17.20 per hour on Tuesday, marking a 3.9 per cent increase from the previous rate of $16.55 per hour.
Communities across the country marked the National Day for Truth and Reconciliation with events honouring survivors of residential schools and remembering those who never made it home.
An Etobicoke resident was taken to hospital after he told a Guelph Police officer he had been stabbed during Homecoming celebrations near the University of Guelph.
Premier Scott Moe has confirmed that the writ will be dropped Tuesday morning – officially kicking off campaigning prior to the provincial election on Oct. 28.
Exclusive polling data collected by Â鶹´«Ã½ in partnership with Insightrix outlines what preferences voters have, if they’re familiar with the party leaders and what issues matter most as Saskatchewan enters into the 2024 provincial election campaign.
With the writ for Saskatchewan's provincial election set to be issued on Tuesday and election day scheduled for Oct. 28, residents have approximately one month to decide which MLA to vote for.
The minimum wage in four provinces is going up today.
A 73-year-old man on a mobility scooter was killed Sunday night in Sudbury after being hit by a vehicle on Lasalle Boulevard and Barry Downe Road.
If you're struggling to find a name for your baby, you may find some inspiration in a new list of popular names.
Police in Sarnia are investigating after a man was shot in the face and neck several times with a pellet gun. Around 2:10 p.m. on Sunday, officers responded to an apartment building in the 100 block of East Street near Wellington Street for a weapons call.
A pair of homes are destroyed on Penhale Avenue in St. Thomas, Ont. after an electrical fire set a garage ablaze Sunday night.
Students from three elementary schools in the Thames Valley District School Board (TVDSB) were taking part in a day of learning on the National Day for Truth and Reconciliation.
A pedestrian has died after reportedly getting struck by an OPP cruiser in Bala early Sunday morning.
More than 70 communities nationwide are demand the government take action on climate change.
An early Sunday morning fire in Colgan that caused significant damage is under investigation.
U.S. Customs and Border Protection officers seized $11,000 US from an inbound American citizen at the Ambassador Bridge.
A section of Drouillard Road will close this week for an infrastructure renewal project.
Health Canada issued a recall last week for various sexual enhancement products for containing prescribed drugs like tadalafil and sildenafil.
The Department of National Defence is warning boaters to avoid a small island southwest of Victoria this week as the military conducts routine, but potentially dangerous, demolition training.
The New Democrats are campaigning for another term in British Columbia's provincial election but without many of the familiar faces that have graced lawn signs of elections past.
The residential “school†survivor whose story sparked Orange Shirt Day — and the “Every Child Matters†movement — says she is worried the cause is being forgotten.
Fire crews in Vernon, B.C., responded to a large house fire early Saturday morning.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
The sentencing for three men convicted of helping lead and coordinate the COVID-19 protest blockade at Coutts, Alta., in 2022 has been delayed.
A 10-year-old boy from Lethbridge is being praised as a hero after a routine summer outing at the pool nearly turned tragic for his friend.
A man and woman have been charged after a Lethbridge ice creamery was broken into earlier this week. Staff arrived at Cookie Crimes, in the 300 block of Sixth Street South, just before 5:30 a.m. on Monday to discover the front window broken.
Overnight on Thursday as the community of Elliot Lake was resting to prepare for the upcoming Kraft Hockeyville celebrations, when vandals struck a building that has been top of mind for the northern Ontario city for more than a year.
Ontario Provincial Police remind the public that ‘a case is never closed until it is solved,’ while highlighting the force's continued investigation of the 1996 disappearance of Melanie Ethier.
Sault residents may notice some commotion on the Algoma University campus over the next two weeks as a team conducts an archaeological search.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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