'Joker' executive film producer indicted for allegedly defrauding clients out of $100 million

Karen Garcia, Los Angeles Times on Jul 29, 2026

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LOS ANGELES — A Beverly Hills film producer whose credits include "Joker," "Longlegs" and "Greyhound" has been indicted on federal fraud charges that allege he devised a scheme that defrauded investors of more than $100 million.

Jason Cloth, 60, the founder and chief executive officer of Toronto-based Creative Wealth Media, was charged with seven counts of wire fraud Wednesday, according to the U.S. Department of Justice.

From 2019 to 2026, officials allege that Cloth solicited various clients, including an investment advisor in Illinois, to invest in purported motion picture and entertainment projects or to fund a gaming entertainment platform through his company.

"Cloth fraudulently obtained more than $100 million from the Illinois investment adviser, the adviser's clients and other investors based on false representations about the performance and value of their investments," the indictment states.

Officials accuse Cloth of knowingly taking the investors money for personal uses, including the development of a real estate project in Canada.

Cloth is also accused of engaging in a Ponzi scheme by using the acquired investor funds to repay prior investors.

Cloth has been the executive producer of more than 70 feature films, and in 2019 committed more than $750 million to major films and TV series through a joint partnership with Bron Creative, Variety reported. Cloth was dubbed "one of the biggest private financiers" in the film industry at the time.

The indictment seeks forfeiture, or the loss of property or money, from Cloth in the amount of at least $12.5 million for alleged film and gaming projects.

Each count of wire fraud is punishable by up to 20 years in federal prison.

Officials said that Cloth was arrested on Tuesday in Los Angeles and made an initial court appearance on the same day in the U.S. District Court in downtown Los Angeles.

The indictment was announced by the U.S. attorney for the Northern District of Illinois and the acting special agent-in-charge of the FBI's Chicago field office.

Victims of the alleged fraud scheme are being encouraged to contact the FBI by completing a short form at fbi.gov/jasonclothvictims. The fraud could involve purported film and entertainment projects, gaming entertainment investment platforms or other conduct.