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‘Joker’ & ‘Longlegs’ Producer Jason Cloth Charged In $100M Ponzi Scheme
['Erik Pedersen']
Deadline
Jason Cloth, a film producer with dozens of credits including Joker, Longlegs and Babylon, is facing numerous federal fraud charges and decades in prison in connection with a Ponzi scheme that bilked investors of more than $100 million.
The indictment also alleges that Cloth engaged in a Ponzi scheme by using some investor funds to repay prior investors.
Cloth and his Toronto-based Creative Wealth Media was the main financier of now defunct producer Bron Studios, which filed for bankruptcy and shut its doors in 2023.
Hudson said Bron owed it at least $14.3 million plus interest for its outlay on film including Bombshell, Capone, The Survivor and Greyhound.
The complaint says Cloth and Creative Wealth also received tens of millions of dollars in fees collected for facilitating the loans.