Story perspectives

Chicago Indicts Canadian Financier Jason Cloth Over $100 M Wire-Fraud Ponzi

7/30/2026

Summary

Jason Cloth Indicted

Federal prosecutors in Chicago indicted Canadian financier Jason Cloth on seven wire-fraud counts, arrested him in Los Angeles, and alleged a $100 million Ponzi scheme.
Prosecutors say Cloth diverted investor money for gaming and film projects to a Canadian development and seek forfeiture of at least $12.25 million.
A 2024 Florida jury ordered Cloth to pay $19.6 million in a civil TV-project case, prompting his step down from C2 Motion Picture Group.

Summary

Jason Cloth Charged

The FBI’s Chicago field office launched a victim-identification campaign, asking investors to submit information at fbi.gov/jasonclothvictims.
The U.S. Attorney’s Office for the Northern District of Illinois and the acting special agent-in-charge announced charges and sought forfeiture of at least $12.25 million.
The indictment alleges fraud from 2019 through June 2026.
Industry reports say Jason Cloth committed over $750 million to films and TV in 2019 through a partnership with Bron Creative.

History

Historical Context

Enron’s 2001 Chapter 11 filing—then the largest U.S. bankruptcy with $63.4 billion in assets and $74 billion lost by shareholders—prompted the 2002 Sarbanes-Oxley Act to tighten audit and fraud rules. The recent Chicago indictment of Canadian financier Jason Cloth for a $100 million Ponzi scheme echoes that legacy, spurring calls for stronger cross-border securities oversight and new FBI victim-identification tools.

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Jason Cloth Indicted

Federal prosecutors in Chicago indicted Canadian financier Jason Cloth on seven wire-fraud counts, arrested him in Los Angeles, and alleged a $100 million Ponzi scheme.
Prosecutors say Cloth diverted investor money for gaming and film projects to a Canadian development and seek forfeiture of at least $12.25 million.
A 2024 Florida jury ordered Cloth to pay $19.6 million in a civil TV-project case, prompting his step down from C2 Motion Picture Group.

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