A Los Angeles man was sentenced to 5 years in prison Tuesday for his position in a $12.5 million Hollywood swindle.
Steven Brown, 48, was considered one of three males busted in 2016 and charged by Manhattan federal prosecutors with posing as film producers so as to persuade starry-eyed buyers to half with their cash.
However as a substitute of manufacturing films starring the likes of Nicolas Cage and Harry Connick Jr., Brown — along with James David Williams and Gerald Seppala — used the cash to pay again different buyers and purchase themselves good issues, together with a rental for Brown, prosecutors mentioned.
They acquired away with it by faking paperwork, together with falsified monetary information that mirrored investments within the movies that by no means existed, the feds mentioned.
Brown continued to solicit investments in movie tasks primarily based on false data even after he was arrested, together with in 2017, the feds mentioned.
At sentencing, he was additionally ordered to forfeit his possession curiosity in a California property and to fork over $673,028 in prison proceeds.
His co-defendant Seppala was sentenced to 4 months in prison in July. Williams is scheduled to be sentenced subsequent month.