$25M Indie Film Scam

Hollywood is being rocked by one of the biggest scandals and scams in history as the FBI and IRS have busted over 18 people for fraud and money laundering for allegedly soliciting $25 million to make movies.

Not only that but one of the main suspects is a former CIA agent who ran a movie company, the principal group that solicited and fouled up the money.

The former CIA agent ran a company called “Q Media Assets” and has already pled guilty to the conspiracy, fraud, and tax charges in regard to the case. In addition to that the other companies on the hit list are Cinamour Entertainment LLC accused of bilking investors who put money down hoping to get major returns.

Some of the promises included returns of up to 1,000% return on investment. Authorities say that the money gathered in by the hucksters was going into their pockets and only about 1/3 of the money from the investors went into the production of the films.

The schemes went on from early 2004 to mid 2009. None of the movies they supposedly made and invested in made any profit which is quite obvious.

The indictments say that the the companies fouled up and didn’t produce the movies they had money for or the movies they did produce cost far less to make and didn’t make profits.

What’s alarming about this is that it shows what many had been saying for decades, and has been revealed many times that present and former intelligence operatives are all through the media from mainstream news to movies, to television and in this case one got busted and the case is going to be watched scrupulously as Hollywood is rife with such scams.

Tags: Justice

Category: Movie News