MOVIES(45 days ago)
Film financier behind 'Joker' and 'Babylon' indicted for alleged $100M Ponzi scheme
Jason Cloth, the financier with producer credits on hits like 'Joker' and 'Babylon', has been indicted on wire fraud charges. Per Variety, he's accused of running a $100 million Ponzi scheme.
The indictment alleges Cloth lied to investors about how their money would be used. TheWrap reports funds meant for film projects were instead allegedly used to pay off other real estate investors.
Cloth, 60, now faces seven counts of wire fraud following the charges filed in Chicago. His recent producer credits also include 'Ghostbusters: Afterlife'.
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