Minnesota Connection to Alleged Movie Investment Scam
NEW YORK (AP) — A New York indictment charges three men with misleading investors who contributed over $12 million toward producing film projects.
A 2014 civil lawsuit against the men in Los Angeles federal court said the investment pertained to films starring Nicolas Cage, Willie Nelson and Harry Connick Jr., among others.
Manhattan federal prosecutors said James David Williams, Steven Brown and Gerald Seppala made false promises and representations. Arrests occurred in Los Angeles, New York and Minnesota.
A lawyer for the men did not immediately return a message seeking comment.
Federal authorities say over $12 million solicited from investors was used by the men to fund other projects, pay back previously defrauded investors or pay personal expenses.
The men face conspiracy and wire fraud charges that carry potential penalties of decades in prison.