Hollywood actor's Ponzi scheme, explained: Why investors keep falling for scams
CNN
The tale of Zachary Horwitz made headlines this week after he was sentenced to 20 years for bilking investors out of $650 million by peddling bogus licensing deals with HBO and Netflix.
Ironically, it is just the kind of juicy swindler story you might binge watch on those platforms: Horwitz, a 35-year-old actor who had bit roles in a handful of low-budget films over the past decade, pleaded guilty last fall to committing federal securities fraud and running an illegal operation known as a Ponzi scheme. For years, prosecutors say, Horwitz used his investors' money to fund a lavish Hollywood lifestyle — until his scam unraveled.
Ponzi schemes, explained
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
President Donald Trump reignited a decades-long feud with comedian Rosie O’Donnell Saturday, taking to his Truth Social platform to write he was considering revoking her citizenship.
The university is expected to pay a multimillion-dollar settlement to victims of alleged civil rights violations and implement changes to its diversity, equity and inclusion policies.
Federal regulators repeatedly granted appeals to remove Camp Mystic’s buildings from their 100-year flood map, loosening oversight as the camp operated and expanded in a dangerous flood plain in the years before rushing waters swept away children and counselors, a review by The Associated Press found.
Two of the most senior figures in the US government — Secretary of State Marco Rubio and the White House chief of staff — have been impersonated in recent weeks using artificial intelligence — a tactic that harnesses a rapidly developing technology that cybersecurity experts say is becoming the “new normal” in terms of cheap and easy scams targeting senior US officials.
People awoke from water rushing around them during the early morning hours of July 4, all along the Guadalupe River in the Texas Hill Country. Residents were seemingly caught off guard, but warnings had been issued days and hours before floodwaters began carrying away homes, and lives.
One year after the near assassination of Donald Trump, a deep frustration has set in at the Secret Service over the agency’s response to the security failures of that day.
Suspected Chinese hackers have broken into the email accounts of attorneys and advisers at a powerful Washington, DC, law firm in an apparent intelligence-gathering operation, the firm, Wiley Rein, told clients this week in a memo reviewed by CNN.
A federal judge on Friday found that the Department of Homeland Security has been making arrests in Los Angeles immigration raids without probable cause, ordering the department to stop detaining individuals based solely on race, spoken language or occupation.
Jose Adolfo Macías, better known as “Fito,” agreed Friday to be extradited from Ecuador to the US, where he is wanted by the US Justice Department on charges of drug and weapons trafficking.
A Pennsylvania man who posted a video of his father’s severed head on YouTube was convicted of murder Friday and sentenced to life without parole.
David Gergen served as a presidential adviser to four presidents of both parties and was a longtime CNN political analyst.
Deputy FBI Director Dan Bongino has told people he is considering resigning amid a major clash between the FBI and Justice Department over the continued fallout from the release of the Jeffrey Epstein memo, several sources familiar with the matter told CNN.
A federal appeals court determined that former Defense Secretary Lloyd Austin “indisputably” had the authority to cancel plea agreements made last year with Khalid Sheikh Mohammed and two other defendants accused of plotting the 9/11 terror attack.