Ontario Securities Commission
Coverage of Ontario Securities Commission in the Nexus archive.
- Film financier Jason Cloth indicted in alleged $100M Ponzi scheme tied to movie funding
Film financier Jason Cloth has been indicted on wire fraud charges related to a $100 million Ponzi scheme tied to movie funding. The indictment alleges he used investor money for projects like Canadian real estate and to pay earlier investors, rather than the films and video game platform he claimed. He faces seven counts of wire fraud and potential prison time.
- Film financier Jason Cloth indicted in alleged $100M Ponzi scheme tied to movie funding
Film producer Jason Cloth has been indicted on wire fraud charges for allegedly orchestrating a $100 million Ponzi scheme tied to movie funding. The indictment alleges he solicited money from investors for film and video game projects but diverted funds to Canadian real estate and to pay earlier investors. Cloth operates a Canada-based company called Creative Wealth Media Finance Corp.