A Hollywood filmmaker who has produced various main movies has been charged with fraud, the Division of Justice mentioned late final week.
William Sadleir, whose credit embody the 2019 Matthew McConaughey movie “Serenity,” and the 2017 Halle Berry film “Kidnap,” is accused of illegally taking $1.7 million in Paycheck Safety Program funds. The PPP was applied earlier this yr to assist small companies make payroll amid the unfold of COVID-19. He was additionally accused of being concerned in a large wire fraud scheme.
The Division of Justice mentioned that Sadleir used funds from the PPP for private and non-business-related bills, together with private bank cards and a automobile loan. The DOJ mentioned he allegedly transferred over half the cash to a private bank account and started utilizing and trying to make use of the funds to repay private bank card money owed totaling greater than $80,000 and a automobile loan totaling roughly $40,000, amongst different private bills.
Court docket paperwork mentioned that Sadleir claimed that the funds can be used to help payroll bills for 3 movie manufacturing and distribution firms.
“This defendant allegedly used Paycheck Protection Program loans to pay off his personal credit card debts and other personal expenses, rather than using the funds for legitimate business needs,” mentioned Assistant Legal professional Basic Brian A. Benczkowski of the Justice Division’s Prison Division. “As the department has made clear, those who defraud the PPP to line their own pockets at the expense of the American people will be brought to justice.”
Sadleir faces federal prices of wire fraud, bank fraud, false statements to a monetary establishment, and false statements to the Small Enterprise Affiliation.
In the meantime, the US Legal professional for the Southern District of New York mentioned final week that was allegedly concerned in a $30 million wire fraud scheme. Among the many allegedly fraudulent exercise, he’s accused of embezzling roughly $14 million of investor funds from his movie firm.
“As alleged, William Sadleir orchestrated a massive fraud, embezzling approximately $14 million of investor funds from his film company to pay for a Beverly Hills estate, among other fraudulent acts. Thanks to the dedicated work of our law enforcement partners at the FBI, Sadleir will be held accountable for his behind-the-scenes misdeeds.”
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