Financier Jason Cloth Charged in Alleged $100 Million Investment Fraud
Canadian producer Jason Cloth was indicted on seven wire-fraud counts for allegedly misusing more than $100 million raised for film and TV projects, with prosecutors seeking forfeiture of over $12 million.
Jason Cloth, a Canadian financier who has served as executive producer on films such as Joker, Licorice Pizza and House of Gucci, was arrested in Los Angeles and indicted on seven counts of wire fraud, a federal indictment unsealed in Chicago showed.
Prosecutors allege that between 2019 and 2026 Cloth solicited large investments through his former company Creative Wealth Media, promising the funds would finance movies and other entertainment projects. They say he diverted more than $100 million from an Illinois investment adviser and its clients, using some of the money for a real-estate development in Canada and to repay earlier investors.
Cloth stepped down as co-head of C2 Motion Picture Group in 2024 after fraud allegations surfaced, and a Florida jury previously found he defrauded an investor linked to projects including Ghostbusters: Afterlife and a basketball documentary series. Creative Wealth, which filed for bankruptcy in 2023, was the main financier for Bron Studios, a Canadian production company that also entered bankruptcy that year.
In the bankruptcy proceedings, Creative Wealth acquired most of Bron’s remaining assets, including stakes in several films. Cloth said the court’s decision reflected the impact of Bron’s actions on Creative Wealth.
If convicted, Cloth faces up to 20 years in prison for each wire-fraud count, and the indictment seeks forfeiture of at least $12.25 million.