The charges are as flamboyant as the man himself is supposed to be, but he now faces up to six years in prison after being found guilty of his involvement in what US attorney Damian Williams calls “scheming”. brazen and calculated to defraud a New York”. investment funds over $30 million using a fake company, fake documents and even a fake identity.
William Sadleir served as Chairman and CEO of Aviron Pictures from approximately 2015 to 2019. In this capacity, he was one of the executive producers of “The Informer” 2019 and, through his company Rowing Pictures, produced and directed at least half a dozen popular films. Prior to founding Aviron, Sadleir was known as a businessman and entrepreneur. From 1982 to 1983, Sadleir served as director of President Ronald Reagan’s Appointments and Planning Office.
It is also through his company that the United States Department of Justice (US DOJ) alleges that Sadlier defrauded the investors of Aviron, which Sadleir left in 2019 or 2020. Chief among the allegations is that he transferred funds that were to be used for advertising and media credits to a bogus company he set up. Later, authorities say, he used the money to purchase items for himself, including a $14 million home in Beverly Hills.
The Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the US Attorney’s Office Securities and Commodities Fraud Task Force led the investigation.
Sadleir, 68, pleaded guilty to two counts of wire fraud on January 20, 2022.
On Friday, September 9, 2022, he was sentenced to six years in prison. Judge Paul A Engelmayer also sentenced Sadleir to three years of probation following his prison sentence and ordered him to pay $31,597,000 in restitution.
In a written statement, US attorney Damian Williams said: “William Sadleir presented himself as a successful Hollywood mogul… Sadleir went so far as to pose as an advertising executive on furlough. motherhood as part of an effort to cover up his crimes.Today’s sentencing holds Sadleir accountable for his crimes and sends the message that there will be no happy endings for executives who defraud their investors.
Officials say Sadleir took about $30 million of the $75 million that a New York-based stock-listed investment fund had invested in Aviron. The investment fund, identified by the New York Daily News as BlackRock Multi-Sector Income Trusthad a total value of approximately $649.1 million in assets, according to the United States Attorney’s Office for the Southern District of New York.
Authorities say the company employee Sadleir claimed to be was called “Amanda Stevens.” They say that at one point Sadleir tried to avoid questioning by claiming that “she” was on maternity leave. Officials say Sadleir also forged a signature releasing a lien on intellectual property and assets owned by Aviron as security for loans made to Aviron by the investment fund. The DOJ says Aviron ended up defaulting on the loans.
Photos of events Aviron Pictures
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