{"id":9948,"date":"2021-04-23T15:25:29","date_gmt":"2021-04-23T19:25:29","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9948"},"modified":"2021-04-23T15:25:29","modified_gmt":"2021-04-23T19:25:29","slug":"city-national-bank-sued-for-alleged-role-in-1inmm-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/city-national-bank-sued-for-alleged-role-in-1inmm-ponzi-scheme\/","title":{"rendered":"City National Bank Sued For Alleged Role In 1inMM Ponzi Scheme"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9935 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall.jpg\" alt=\"City National Bank is a named co-defendant in a class-action lawsuit filed in U.S. District Court for the Central \u00a0District of California by victims of alleged Ponzi schemer Zachary Horwitz, a sometimes-Hollywood actor under the name Zach Avery who raised $690 million through a bogus film licensing company called 1inMM Capital, LLC.  Zachary Horwitz Alleged Mastermind Of Ponzi Scheme  The complaint alleges that City National, in maintaining at least seven separate accounts to which Horwitz was the sole authorized signatory, \u201cknew of and substantially assisted Horwitz\u2019s fraudulent scheme.\u201d That scheme, for which the complaint says Horwitz now owes defrauded investors more than $230 million, involved the selling of short-term, high-yield promissory notes to investors, in exchange for which Horwitz promised to purchase movie rights and broker licensing deals, using his industry connections at HBO, Netflix, and Sony.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/04\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>City National Bank is a named co-defendant in a <a href=\"https:\/\/www.silverlaw.com\/class-actions.html\" target=\"_blank\">class-action lawsuit<\/a> filed in U.S. District Court for the Central \u00a0District of California by victims of alleged Ponzi schemer Zachary Horwitz, a sometimes-Hollywood actor under the name Zach Avery who raised $690 million through a bogus film licensing company called <a href=\"https:\/\/www.silverlaw.com\/blog\/zachary-horwitz-and-1inmm-capital-subject-of-alleged-ponzi-scheme\/\" target=\"_blank\">1inMM Capital, LLC<\/a>.  <a href=\"https:\/\/www.silverlaw.com\/blog\/city-national-bank-sued-for-alleged-role-in-1inmm-ponzi-scheme\/#more-9948\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>City National Bank is a named co-defendant in a class-action lawsuit filed in U.S. District Court for the Central \u00a0District of California by victims of alleged Ponzi schemer Zachary Horwitz, a sometimes-Hollywood actor under the name Zach Avery who raised $690 million through a bogus film licensing company called 1inMM Capital, LLC. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[602,593],"tags":[],"class_list":["post-9948","post","type-post","status-publish","format-standard","hentry","category-class-action","category-ponzi-schemes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>City National Bank Sued For Alleged Role In 1inMM Ponzi Scheme &#8212;<\/title>\n<meta name=\"description\" content=\"City National Bank is a named co-defendant in a class-action lawsuit filed by victims of alleged Ponzi schemer Zachary Horwitz, and his company 1inMM.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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