Fortune· 2h ago· 1 min read
Film producer Jason Cloth, who financed “Joker,” “Ghostbusters: Afterlife” and dozens of other movies, has been indicted by a federal grand jury on wire fraud charges in connection with what prosecutors say was a $100 million Ponzi scheme.
The indictment against Cloth, 60, was unsealed Tuesday in U.S. District Court in Chicago. Cloth was arrested the same day in Los Angeles, where he made his first court appearance, the U.S. Attorney's Office for the Northern District of Illinois said.
The indictment alleges Cloth solicited money from investors, telling them the funds would be used for a film or a video game platform. Instead, the indictment alleges, he used the money for other projects like a Canadian real estate development and to pay off earlier investors.
Court records do not reveal if Cloth has obtained an attorney in the criminal case. Several attorneys representing Cloth in…
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