Federal prosecutors allege a California man scammed foreign investors out of $14 million by selling them on a movie that Netflix never agreed to distribute.
According to the NY Post, Adam, 41, of Manhattan Beach, surrendered to authorities Tuesday. He is charged with wire fraud and money laundering, along with aggravated identity theft for allegedly using fake documents and forged signatures.
Prosecutors say the film, titled Legends, was pitched as a story about historical figures like Paul Bunyan and Davy Crockett. They allege Adam ran a company called Dark Planet Pictures and told investors that well known Hollywood producers had signed on once an initial $10 million came in.
According to a criminal complaint, he met with a director at Korean Investment Partners in 2015 and told the firm that Netflix had agreed to distribute the film. Prosecutors say a fake distribution agreement, made to look like it was signed by a Netflix executive, helped convince the firm to invest $8 million, and that half of that money was sent to his production company.
Prosecutors allege the same approach worked on a Chinese investment firm, Star Century Pictures, which put in another $6 million.
An affidavit says FBI agents contacted the Netflix executive whose signature appeared on the agreement and learned he had never heard of Adam or the project.
If convicted on all charges, he faces up to 32 years in prison. A criminal complaint contains allegations only, and he is presumed innocent unless proven guilty in court. We could not find a response from him at the time of this report.
Made to order and shipped to your door.
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