Joker’ Producer Jason Cloth Accused in Shocking $100M Fraud by Federal Prosecutors

LOS ANGELES (KABC) — A prominent film producer in Hollywood has been taken into custody following accusations from federal prosecutors in Illinois, who allege he orchestrated a Ponzi scheme swindling investors out of over $100 million. This dramatic arrest unfolded earlier this week, casting a spotlight on the high-stakes world of celebrity finances.

Jason Cloth, a 60-year-old resident of Beverly Hills, faces seven counts of wire fraud. These charges were revealed in an indictment unsealed on Tuesday at the U.S. District Court in Chicago. According to an official statement from the Justice Department, Cloth was apprehended in the Los Angeles area, where he made his initial court appearance on the same day.

The indictment identifies Cloth as the principal operator of Creative Wealth Media Finance Corp., a financial entity based in Canada.

From 2019 to 2026, Cloth purportedly persuaded several clients, including an investment advisor from Illinois, to back supposed film and entertainment ventures as well as a gaming entertainment investment platform. According to accusations detailed by the Department of Justice, Cloth deceitfully amassed more than $100 million by misleading the Illinois advisor, the advisor’s clients, and various other investors about the true value and performance of their investments.

Prosecutors argue that Cloth was fully aware that the funds would be redirected for different purposes, which reportedly included the development of a real estate project in Canada.

Cloth is listed on IMDb as a producer of films including “Joker” and “Ghostbusters: Afterlife.” He is accused of engaging in a Ponzi scheme by using some investor funds to repay prior investors.

“The indictment seeks forfeiture from Cloth in the amount of at least $12.25 million for the projects identified in the indictment,” the news release said.

Each count of wire fraud is punishable by up to 20 years in prison, according to the Justice Department.

Anyone who believes they are a victim of Cloth’s alleged fraud scheme is urged to contact the FBI’s Chicago Field Office by completing a form at fbi.gov/jasonclothvictims.