A low-budget fright flick actor whose most lucrative role was defrauding deep-pocket investors admitted Monday he ran a multimillion-dollar Hollywood Ponzi scheme. Zachary Horwitz, 34, appeared in federal court in downtown Los Angeles and pleaded guilty to a single count of felony securities fraud carrying a maximum penalty of 20 years in prison. As part of a plea deal that dropped other wire fraud and identity theft charges carrying decades more prison time, Horwitz admitted he duped wealthy private investors into giving him more than $650 million.

Horwitz sat quietly in the courtroom as a federal prosecutor read through the agreement explaining how he made false promises claiming that investor cash would go toward securing titles for subsequent movie and TV distribution deals with major outlets such as HBO and Netflix. While he used some of the money to pay back early investments and keep his scam going, prosecutors say Horwitz…

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