The former leader of a company of production and distribution of movies was arrested Friday in Los Angeles. He is accused of having embezzled a total of more than $ 30 million, appropriating particular funds intended to help the enterprises in difficulty during the pandemic.
William Sadleir, 66 years old, was placed in detention by the american federal police (FBI) as a result of two separate complaints filed in California and New York.
The former boss of Rowing Pictures, a distributor of independent films, is accused in California to have made fraudulent applications for loans for more than $ 1.7 million from a federal fund set up during the pandemic, according to the prosecutors responsible for the case.
The sixties would have made false statements, claiming to be still at the head of the company, in order to obtain financing at advantageous conditions.
Mr. Sadleir, who founded the Rowing Pictures in 2017, has been dismissed from his role of president last year. The company has produced or distributed six films to date, including “After,” romantic drama released in 2019.
“As soon as the funds have been disbursed, a large part has been diverted into the private accounts of Mr. Sadleir and used for personal expenses,” according to the complaint, california.
The money was also used to make transfers on American Express cards of William Sadleir and his wife, as well as to repay an auto credit, according to the report of the indictment.
A separate complaint filed in New York accuses Mr. Sadleir to have orchestrated multiple fraudulent transactions linked to investments of its company Rowing Pictures and its subsidiaries.
The former producer has transferred unlawful $ 25 million to fund Rowing, and bought a private residence in Beverly Hills with a portion of the money ($14 million), according to prosecutors of New York.
“He would have even pretended to be an employee of the phantom company based in New York that he has created to conduct his illegal activities,” said William Sweeney Jr, deputy director of the FBI in New York.
If he is convicted of the four charges against him in California, Mr. Sadlier risk a penalty of up to 82 years in prison.
He faces up to 42 years in prison for the complaints in new york city.