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Canadian film financier Jason Cloth indicted for fraud in U.S.
The Globe and Mail
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Jason Cloth, a Canadian film financier, was indicted by a federal grand jury in Chicago on charges of wire fraud and money laundering. Prosecutors allege he raised more than $100 million from investors by misrepresenting the use of funds and diverting money intended for film projects to repay earlier investors.
Cloth is accused of cheating clients out of more than $100-million in what prosecutors are describing as a Ponzi scheme ...
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