NEW EPISODE

THURSDAY, AUG. 4

10:00-11:00 p.m. - THE CON: "The Hollywood Mogul Con" (205)

THERE'S NO BUSINESS LIKE SHOW BUSINESS WHEN A YOUNG ACTOR UNLEASHES A PONZI SCHEME ON THE FILM INDUSTRY ON A NEW EPISODE OF 'THE CON'

The ABC News Studios Primetime Series Narrated by Whoopi Goldberg Airs Thursday, Aug. 4, on ABC

"The Hollywood Mogul Con" - In 2018, Zach Horowitz, a 28-year-old actor working under the stage name "Zach Avery," unleashed a Ponzi scheme on the film industry. He raised more than $690 million from "five principal investors" using legally binding debt agreements in the form of promissory notes. Horowitz started soliciting money from investors on behalf of 1inMM Productions, his film production company, which was backed by fake distribution deals and the fake rights agreements. He borrowed money for six months to a year promising a return of up to 40 percent on the investment, telling investors the production intended to use their money to secure the distribution rights to various films in regional geographies and then sell those rights to streamers such as Netflix and HBO. The con was up when F.B.I. agents arrested Horowitz at his $5.7 million home in Beverlywood. The Securities and Exchange Commission charged him with securities fraud, seeking an immediate freeze of his assets and the return of "ill-gotten gains." "The Hollywood Mogul Con," a new episode of "The Con," airs THURSDAY, AUG. 4 (10:00-11:00 p.m. EDT), on ABC, and next day on demand and on Hulu.

The ABC News Studios primetime series is narrated by Emmy(R), GRAMMY(R), Tony(R) and Oscar(R) winner and moderator of "The View," Whoopi Goldberg, with weekly appearances by podcaster Laci Mosely ("Scam Goddess") as a featured expert.

For the series, David Sloan is senior executive producer, and Carrie Cook serves as executive producer for ABC News. Eli Holzman and Aaron Saidman are executive producers for The Intellectual Property Corporation (IPC), a part of Sony Pictures Television, along with executive producer and showrunner John Henshaw.

About ABC News Studios

ABC News Studios, inspired by ABC News' trusted reporting, is a premium, narrative non-fiction original production house and commissioning partner of series and specials. ABC News Studios champions untold and authentic stories driving the cultural zeitgeist spanning true-crime, investigations, pop culture, and news-adjacent stories. Its subsidiary, ABC News Films, acquires and produces feature documentary films.

About The Intellectual Property Corporation

The Intellectual Property Corporation (IPC), a part of Sony Pictures Television, is an Emmy(R)-winning content creation and production studio based in Van Nuys, California. Founded in 2016 by Eli Holzman and Aaron Saidman, IPC develops and produces premium television, film, documentary, commercial and interactive mobile content for global streamers and US broadcast and cable networks. Recent productions include "Indian Matchmaking" and "Night Stalker" (Netflix); "Selena + Chef" (HBO Max); "We're Here" and "The Swamp" (HBO); "This Is Paris" (YouTube Originals); "The Last Narc" (Amazon); "The Substitute" (Nickelodeon); "Empires of New York" (CNBC); and "The Con" (ABC). IPC is a two-time Emmy Award recipient and a Producers Guild Award recipient for its series "Leah Remini: Scientology & the Aftermath" (A&E).