Entertainment

Movie lenders will be sentenced to 13 years in prison for $ 60 million fraud plan | National News

Miami (AP) — A South Florida man claiming to be a movie funder said he had implemented plans to steal more than $ 60 million from investors and producers seeking funding for movies and Broadway shows. , Was sentenced to 13 years in prison from Tuesday.

According to court records, Benjamin Forest McConley, 39, was sentenced to the Miami Federal Court. In addition to serving in prison, he also has to pay compensation. In 2019, he pleaded guilty to one of the plots that committed the transfer fraud.

According to the complaint, McConley, who works as Weatherbane Productions, and co-defendant Jason Van Eman have funded investors and producers seeking funding to produce films, plays, and other projects. Offer to offer. McConley and Van Eman promised the victims to match their cash contributions and use the combined funds to secure funds from financial institutions in South Florida and elsewhere, investigators said. ..

According to prosecutors, Benjamin Rafael, a former Wells Fargo banker hired by McConley and Van Eman, pushed the plan forward by lying to victims about the security of their funds. Victims lost millions of dollars and their contributions never matched. Instead of funding the project, the money is sent to personal and corporate bank accounts for luxury cars, water bikes, real estate, stocks, jewelry, furniture, designer clothing, hotel accommodation, and air travel. It was used.

Movie lenders will be sentenced to 13 years in prison for $ 60 million fraud plan | National News

Source link Movie lenders will be sentenced to 13 years in prison for $ 60 million fraud plan | National News

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