Canadian film financier Jason Cloth faces fraud charges in U.S.
Hollywood producer Jason Cloth has been arrested and indicted in the U.S. on fraud charges involving over $100 million in investor funds. The indictment alleges he misled investors about film and gaming projects while diverting money for personal use and real estate.
Why it matters
This case highlights significant financial misconduct in film financing, impacting both individual investors and the integrity of Hollywood production funding.
The 60-year-old Hollywood producer, whose credits include Joker and A Simple Favor , was indicted by a federal grand jury and arrested in Los Angeles on Tuesday, according to the U.S. Attorney's Office, Northern District of Illinois.
FBI spokesperson Laura Eimiller said Wednesday that Cloth was released on $200,000 US bail Tuesday.
The indictment says Cloth solicited and received funds from investors through his Toronto-based company, Creative Wealth Media Finance Corp., between 2019 and 2026.
"It was part of the scheme that Cloth fraudulently solicited and obtained over $100 million" from alleged victims described as an investment adviser, their clients, as well as other investors, "based on false representations about the performance and value of the investments," the indictment reads.
Cloth could not be reached for comment on Wednesday by email.
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