Producer Jason Cloth Indicted Over Alleged $100 Million Ponzi Scheme
The Hollywood Reporter • • entertainment
Key Points:
- Jason Cloth, a Canadian financier and executive producer on films like Joker and House of Gucci, has been indicted for allegedly defrauding investors of $100 million and was arrested in Los Angeles.
- He faces seven counts of wire fraud, with allegations dating from 2019 to 2026 involving misuse of investor funds for projects including film financing and a Canadian real estate development.
- Cloth stepped down as co-head of C2 Motion Picture Group in 2024 amid fraud allegations, following a Florida jury verdict that found he scammed an investor out of millions on multiple film projects.
- His former financing company, Creative Wealth Media, which filed for bankruptcy in 2023, and Bron Studios, a major Canadian production company, have both been involved in lawsuits alleging widespread fraud.
- Cloth could face up to 20 years in prison per count, and the indictment includes a forfeiture request of at least $12.25 million.
