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VIDEO | 06:17
LA Times Today: Inside one of Hollywood’s most audacious Ponzi schemes

LA Times Today: Inside one of Hollywood’s most audacious Ponzi schemes

Watch L.A. Times Today at 7 p.m. on Spectrum News 1 on Channel 1 or live stream on the Spectrum News App. Palos Verdes Peninsula and Orange County viewers can watch on Cox Systems on channel 99.

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What’s the old saying? “Hollywood couldn’t have written this script.”

Zachary Horwitz came to L.A. to make it as a movie star. But after a slow start to his career, he began a small time production company.

He allegedly swindled nearly 700-million dollars from investors, in one of the most daring Ponzi schemes in the history of Hollywood.

L.A. Times’ Michael Finnegan shared the story.

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