Zachary Horwitz, a virtually unknown actor in Hollywood, allegedly paid for his lavish lifestyle through a Ponzi scheme. According to the Wall Street Journal, Horwitz bilked investors out of $690 million by claiming he had licensing rights to movies that he was selling to Netflix and HBO!
Since Ponzi schemes are sustained by obtaining money from new investors, Horwitz’s plot unraveled when he began defaulting on promised investor returns of 35% or more. Even his signature bottle of scotch with annual reports couldn’t save him.
Proverbs 21:6 says, “A fortune made by a lying tongue is a fleeting vapor and a deadly snare.”
Chasing fortunes illegally is a deadly snare. Mr. Horwitz lived the good life for a while, but now will likely spend years in a meager prison setting.
