Hollywood Producer Jason Cloth Charged in $100 Million Fraud
WHO:
Deadline - Jason Cloth, 60, is based in Beverly Hills and operated Canada-based Creative Wealth Media Finance Corp.
Variety - Jason Cloth, 60, is a financier and executive producer known for films such as “Joker,” “Babylon,” and “Ghostbusters: Afterlife.”
NY Post - Jason Cloth has been arrested following a federal grand jury indictment.
WHAT:
ABC7 Los Angeles - Jason Cloth fraudulently obtained more than $100 million from an Illinois investment advisor, the advisor's clients, and other investors based on false representations about the performance and value of their investments.
ABC7 Los Angeles - The indictment seeks forfeiture from Cloth in the amount of at least $12.25 million for the projects identified in the indictment.
Deadline - The indictment includes allegations that Cloth operated the Ponzi scheme through Creative Wealth Media Finance Corp, misleading investors about the use of their funds.
Deadline - Jason Cloth is facing charges that could result in decades in prison.
Deadline - The indictment alleges that Cloth bilked investors of more than $100 million.
Deadline - Jason Cloth faces numerous federal fraud charges and could face decades in prison.
Variety - Jason Cloth has been indicted on seven counts of wire fraud.
Variety - The alleged fraud scheme involves $100 million.
NY Post - The indictment was unsealed in US District Court in Chicago.
WHERE:
Variety - The indictment was issued in Chicago.
NY Post - Jason Cloth was arrested in Los Angeles.
WHEN:
Variety - The indictment was unsealed in US District Court in Chicago.
WHY:
Variety - Cloth is accused of lying to investors about how their money would be used.
HOW:
ABC7 Los Angeles - Cloth is accused of using some investor funds to repay prior investors as part of the alleged Ponzi scheme.
NY Post - Prosecutors claim that Cloth's actions involved soliciting investments under false pretenses, which is a key element of the alleged Ponzi scheme.
Deadline - Prosecutors allege that Cloth solicited investments under false pretenses as part of the Ponzi scheme.
Variety - The alleged method involved running a Ponzi scheme.
(UPDATED July 30, 2026 10:42 UTC)
Jason Cloth has been indicted for fraudulently obtaining over $100 million from an Illinois investment advisor, their clients, and other investors by making false claims about the performance and value of their investments. The indictment also seeks to forfeit at least $12.25 million from Cloth related to the identified projects. Authorities allege that Cloth used some of the investor funds to pay back earlier investors, which is a hallmark of a Ponzi scheme.
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(UPDATED July 30, 2026 01:30 UTC)
Prosecutors have announced an indictment against Cloth, alleging that he operated a Ponzi scheme through Creative Wealth Media Finance Corp, misleading investors about how their funds were being used. The indictment claims that Cloth solicited investments under false pretenses, which is a crucial aspect of the alleged scheme. This legal action highlights serious concerns regarding investor protection and financial transparency.
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(UPDATED July 29, 2026 22:25 UTC)
Jason Cloth is facing serious charges that could lead to decades in prison. The indictment claims that he defrauded investors out of more than $100 million. As the legal proceedings unfold, the implications of these allegations are significant.
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(UPDATED July 29, 2026 21:21 UTC)
Jason Cloth, a 60-year-old based in Beverly Hills and the operator of Canada-based Creative Wealth Media Finance Corp, is facing numerous federal fraud charges that could lead to decades in prison. Prosecutors allege that Cloth solicited investments under false pretenses as part of a Ponzi scheme. The case has garnered significant attention as it unfolds.
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(UPDATED July 29, 2026 20:24 UTC)
Financier and executive producer Jason Cloth, known for his work on films like "Joker" and "Ghostbusters: Afterlife," has been arrested following a federal grand jury indictment on seven counts of wire fraud. The indictment, which was unsealed in US District Court in Chicago, alleges that Cloth ran a Ponzi scheme involving $100 million, deceiving investors about the use of their funds. Cloth was arrested in Los Angeles, and the case has drawn significant attention due to his high-profile connections in the film industry.