1 Day
Source:
Los Angeles Times
Joker producer accused of $100M fraud
Jason Cloth, CEO of Toronto-based Creative Wealth Media, has been charged with seven counts of wire fraud for allegedly defrauding investors of over $100 million from 2019 to 2026. The charges stem from a scheme involving false representations about investments in film projects and a gaming platform, along with a Ponzi scheme using investor funds for personal use. Cloth was arrested in Los Angeles and faces potential penalties of up to 20 years in prison per count, with authorities seeking at least $12.5 million in forfeiture.
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