The case that I found from the SEC comes from the case of a movie that was being produced in 2016. Daniel Adams, the movie director, and music producer Michael Flanders, for defrauding investors and convincing them to invest into the movie by falsifying reports. The most notable instance is when Adams and Flanders convinced an investor to contribute a total of $160,000 to the movie. This would be done only if a proof of additional investment would be done and at that point, Flanders asked Adams to make fake wire exchange for $200,000 showing false revenue to get other investors in on the project. In total, $330,000 worth of fines were given to Adams, Flanders, and two companies involved with the film for the fraud that was committed.

Resources

Daniel Adams, Michael Flanders, Spiderworx Media LLC, and an L.A. Minute LLC (release no. LR-24837; Jun. 16, 2020). Daniel Adams, Michael Flanders, Spiderworx Media LLC, and An L.A. Minute LLC (Release No. LR-24837; Jun. 16, 2020). (2020, June 16). Retrieved October 12, 2022, from https://www.sec.gov/litigation/litreleases/2020/lr24837.htm

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