A Hollywood big wig is facing decades in prison after admitting to bilking a New York investment fund out of more than $30 million “in a brazen plot that could be ripped from one of the films he distributed,” federal officials announced.
Beverly Hills resident William Sadleir, age 67, pleaded guilty to two counts of wire fraud in connection with his participation in two schemes relating to investments made by a New York-based investment fund in Aviron Pictures.
US Attorney Damian Williams said that Sadleir was the chairman and CEO of Aviron, which he oversaw from 2015 through December 2019, participating in the distribution of films that included:
- My All American (2015);
- Kidnap (2017);
- The Strangers: Prey at Night (2018);
- A Private War (2018);
- Destination Wedding (2018);
- Serenity (2019);
- After (2019).
While serving in that capacity, Sadleir admitted to participating in a pair of schemes tied to an approximately $75 million investment in the production company.
The first scheme involved Sadleir misappropriating millions of dollars from Aviron for more than $25 million through an advertising scam by creating a sham company based in New York that appeared legitimate.
Williams said that Sadleir then used a significant amount of that money to purchase a Beverly Hills home for approximately $14 million.
To facilitate the scheme, Sadleir lied about where the funds had gone, claiming they were used to promote future films, while pledging a…
