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Producer Of Oscar-Winning Films Accused Of $100M Ponzi Scheme

Federal prosecutors in Chicago indicted Beverly Hills film producer Jason Cloth on Tuesday on seven counts of wire fraud, alleging he operated a $100 million Ponzi scheme.
Between 2019 and 2026, Cloth allegedly diverted funds intended for film projects into a Canadian real estate development while using new investor money to repay prior investors.
The executive producer, whose credits include "Joker" and "Ghostbusters: Afterlife," was arrested Tuesday in Los Angeles, with prosecutors seeking forfeiture of at least $12.25 million.
Each wire fraud count carries a theoretical maximum of 20 years in federal prison, and the FBI's Chicago Field Office is urging potential victims to contact them.
Creative Wealth Media, Cloth's former firm, declared bankruptcy in 2023 amid lawsuits accusing him of shuffling investments to repay outstanding loans.

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Joker Financier Accused of $100 Million Ponzi Scheme

Jason Cloth, a producer on ‘Joker’ and ‘Longlegs,’ was arrested in Chicago on federal wire-fraud charges. He is accused of running a $100 million Ponzi scheme.

26 minutes ago·New York, United States

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The Independent

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Hollywood producer arrested over alleged $100 million Ponzi scheme

The new charges come two years after another fraud accusation stemming from an NBA draft documentary

34 minutes ago·London, United Kingdom

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Le Journal de Montreal

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Le Journal de Quebec

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$100M Ponzi Strategy: A Canadian Film Producer Arrested for Fraud

Canadian film producer Jason Cloth is accused of swindling customers to the tune of more than US$100 million.

43 minutes ago·Montreal, Canada

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The Hollywood Reporter

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Producer Jason Cloth Indicted Over Alleged $100 Million Ponzi Scheme

Federal prosecutors accuse Cloth of diverting funds meant for films and TV shows to other purposes, including to repay prior investors.

56 minutes ago·Los Angeles, United States

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Los Angeles Times

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

A Beverly Hills film producer has been charged with swindling investors into funding purported film projects or a gaming platform.

1 hour ago·El Segundo, United States

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Deadline

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'Joker' & 'Longlegs' Producer Jason Cloth Charged In $100 Million Ponzi Scheme

Jason Cloth, a film producer with dozens of credits including Joker, Longlegs and Babylon, is facing numerous federal fraud charges and decades in prison in connection with a Ponzi scheme that bilked investors of more than $100 million. Prosecutors say that Cloth, 60, of Beverly Hills, operated Canada-based Creative Wealth Media Finance Corp and solicited various clients to invest in purported film and entertainment projects or to fund a gamin…

2 hours ago·Los Angeles, United States

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