Ponzi Victims Sue for HBO, Netflix Licensing Fraud Losses (1)

Investors duped by a massive Hollywood Ponzi scheme are suing a Florida movie producer and alleged promoters in hopes of clawing back $50 million lost in phony HBO and Netflix licensing deals.

Fallout from a more than $650 million scheme that promised to cash in on foreign film rights crashed into the US District Court for the Southern District of Florida Tuesday. The tricked investors filed a complaint seeking to form a class action and get back their losses from movie and television producer Gustavo Montaudon, businessmen Craig and Matthew Cole, and others who allegedly helped promote the fraudulent “1inMM” ...