Film Producer Jason Cloth Charged With Defrauding Investors of More Than $100 Million

Case from 2026 (U.S. Attorney's Office release: July 29, 2026). Published on Scammers.com Oct. 16, 2026; case status is current as of that date.

Jason Cloth, 60, a Beverly Hills, California, film producer, was charged with seven counts of wire fraud in an indictment unsealed July 28, 2026, in federal court in Chicago, accused of obtaining more than $100 million from an Illinois investment advisor, the advisor's clients and other investors through purported film and entertainment projects, the U.S. Attorney's Office for the Northern District of Illinois announced [1]. The Associated Press reported that Cloth financed movies including "Joker" and "Ghostbusters: Afterlife" [2].

Important: Cloth is charged only and is presumed innocent unless and until proven guilty.

How the alleged scheme worked

According to the indictment as summarized by prosecutors [1]:

1. The company: Cloth operated Canada-based Creative Wealth Media Finance Corp.
2. The pitch: From 2019 to 2026, he allegedly solicited clients, including an Illinois investment advisor, to invest in film and entertainment projects or to fund a gaming entertainment investment platform.
3. False representations: He allegedly obtained more than $100 million based on false statements about the performance and value of the investments.
4. Diverted money: The indictment alleges Cloth knew when he took the money that he would use it for other purposes, including developing a real estate project in Canada.
5. Ponzi payments: He allegedly used some investor money to repay earlier investors.

The indictment seeks forfeiture of at least $12.25 million tied to the projects it identifies [1].

The person charged

Jason Cloth, 60, Beverly Hills, Calif. [1]

• Court: U.S. District Court for the Northern District of Illinois, case No. 1:26-cr-00405 [3].
• Charges: seven counts of wire fraud.
• Arrest: arrested July 28, 2026, in Los Angeles, where he made an initial court appearance.
• Statutory exposure (informational): up to 20 years per count, as described by the U.S. Attorney's Office.
• Investigation: FBI Chicago Field Office, with assistance from the U.S. Securities and Exchange Commission; prosecuted by Assistant U.S. Attorneys Jared Hasten and Sean Hennessy.

Possible victims

The FBI asks anyone who believes they were a victim of Cloth's alleged scheme, whether through Creative Wealth Media Finance Corp. or another entity, to fill out the form at fbi.gov/jasonclothvictims [1].

Red flags

• Glamour investments (films, entertainment, gaming) sold on the strength of famous titles rather than audited results.
• Reported gains you cannot verify independently.
• Funds moving between related entities with no clear accounting.
• Returns paid out of new money, which only an independent audit can catch.

What to do if you're targeted

1. Ask for audited financials and project-level accounting before investing in private film or entertainment deals.
2. Confirm your advisor's due diligence on any private placement recommended to you.
3. Report suspected fraud to the FBI at ic3.gov and the SEC at sec.gov/tcr.

Case status (as of Oct. 16, 2026)

Defendant	Court	Status as of Oct. 16, 2026	Source
Jason Cloth, 60, Beverly Hills, Calif.	N.D. Ill., No. 1:26-cr-00405	Indicted on seven counts of wire fraud; arrested July 28, 2026; no later outcome found in public sources as of Oct. 16, 2026	[1], [3]

An indictment is an accusation, not evidence of guilt.

Sources

1. U.S. Attorney's Office, Northern District of Illinois, "Federal Grand Jury in Chicago Indicts Film Producer for Allegedly Defrauding Clients of More Than $100 Million," July 29, 2026. https://www.justice.gov/usao-ndil/pr/federal-grand-jury-chicago-indicts-film-producer-allegedly-defrauding-clients-more-100
2. Associated Press, "Film financier Jason Cloth indicted in alleged $100M Ponzi scheme tied to movie funding." https://apnews.com/article/joker-ghostbusters-producer-ponzi-scheme-fraud-charge-92490a18e78bdea0e1ebc6e761d95c89
3. PacerMonitor, docket summary, USA v. Cloth, No. 1:26-cr-00405 (N.D. Ill.). https://www.pacermonitor.com/public/case/66402097/USA_v_Cloth

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