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AFP
May 24, 2020

Hollywood producer arrested in fraud

World

AFP
May 24, 2020

LOS ANGELES: The ousted chairman of a movie production and distribution company was arrested in Los Angeles on Friday for his alleged role in a nearly $30 million fraud scheme and for bilking a COVID-19 fund set up to help businesses.

William Sadleir, 66, of Beverly Hills, was taken into custody by FBI agents and other law enforcement following complaints filed both in California and New York.

Prosecutors say Sadleir, the former head of indie distributor Aviron Pictures, fraudulently filed bank loan applications seeking more than $1.7 million from a federal scheme set up in the wake of the pandemic. Sadleir allegedly made false statements claiming he still had a role at Aviron in order to obtain the forgivable loans. “Immediately upon receiving the funds, a significant amount was diverted to Sadleir´s personal accounts and used for personal expenses,” the California complaint said.