'Joker' executive film producer indicted for allegedly defrauding clients out of $100 million

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Set us as preferred A Beverly Hills film producer whose credits include “Joker,” “Longlegs” and “Greyhound” has been indicted on federal fraud charges that allege he devised a scheme that defrauded investors of more than $100 million.Jason Cloth, 60, the founder and chief executive officer of Toronto-based Creative Wealth Media, was charged with seven counts of wire fraud Wednesday, according to the U.S.

Department of Justice.From 2019 to 2026, officials allege that Cloth solicited various clients, including an investment advisor in Illinois, to invest in purported motion picture and entertainment projects or to fund a gaming entertainment platform through his company.

“Cloth fraudulently obtained more than $100 million from the Illinois investment adviser, the adviser’s clients and other investors based on false representations about the performance and value of their investments,” the indictment states.Officials accuse Cloth of knowingly taking the investors money for personal uses, including the development of a real estate project in Canada.Cloth is also accused of engaging in a Ponzi scheme by using the acquired investor funds to repay prior investors.Movies An unauthorized, but high-quality, copy of the Christopher Nolan hit film ‘The Odyssey’ was leaked online.

Universal responded with a stern warning.Cloth has been the executive producer of more than 70 feature films, and in 2019 committed more than $750 million to major films and TV series through a joint partnership with Bron Creative, Variety reported.Cloth was dubbed “one of the biggest private financiers” in the film industry at the time.The indictment seeks forfeiture, or the loss of property or money, from Cloth in the amount of at least $12.5 million for alleged film and gaming projects.

Each count of wire fraud is punishable by up...