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TexasTowelie

(111,277 posts)
Wed Aug 28, 2019, 04:32 AM Aug 2019

FBI Arrests Manhattan Beach Man Facing Federal Charges Related to Movie Investment Scam that Cost

FBI Arrests Manhattan Beach Man Facing Federal Charges Related to Movie Investment Scam that Cost Victims $14 Million


LOS ANGELES – A Manhattan Beach man surrendered this morning to face federal charges that allege he collected $14 million from investors who were falsely told their money would be used to produce a feature film that Netflix would distribute and would involve several notable Hollywood figures.

Adam Joiner, 41, is expected to make his initial appearance this afternoon in United States District Court in downtown Los Angeles. A criminal complaint filed August 13 and unsealed this morning charges Joiner with wire fraud, money laundering and aggravated identity theft.

According to the affidavit in support of the complaint, Joiner used fake documents and forged signatures to raise millions of dollars from foreign investment firms based in South Korea and China for a project he said would be called “Legends,” which is described in court papers as “an anachronistic mash-up of legendary and historical figures from nineteenth century America, such as Davy Crockett, Calamity Jane, Paul Bunyan, and John Henry.”

Joiner, who operated a company called Dark Planet Pictures, LLC, allegedly defrauded Korea Investment Global Contents Fund, a South Korean investment fund whose assets are managed by Korean Investment Partners Co., Ltd. (KIP). The complaint also accuses Joiner of defrauding a Chinese investment firm called Star Century Pictures Co., Ltd. and a related company called PGA Yungpark Capital Ltd.

Read more: https://www.justice.gov/usao-cdca/pr/fbi-arrests-manhattan-beach-man-facing-federal-charges-related-movie-investment-scam
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