The Jason Cloth indictment accuses the film producer and financier of obtaining more than $100 million from investors through Creative Wealth Media Finance and diverting funds to unrelated ventures and earlier investors. The FBI is seeking information from potential victims.
Jason Cloth indicted on federal wire fraud charges
Film producer and financier Jason Cloth has been indicted on seven federal wire fraud counts in Chicago over an alleged investment scheme that prosecutors say obtained more than $100 million.
The indictment was unsealed on July 28, 2026, in the U.S. District Court for the Northern District of Illinois. Cloth, 60, was arrested that day in Los Angeles and made an initial court appearance there. Each count carries a maximum sentence of 20 years. Prosecutors are also seeking forfeiture of at least $12.25 million.
Creative Wealth investments allegedly diverted
Prosecutors allege Cloth used his Canada-based company, Creative Wealth Media Finance Corp., to solicit investor funds from 2019 through 2026. Investors were told their money would support film projects or a gaming platform.
According to the indictment, Cloth intended to use some of the funds for other purposes, including a Canadian real estate development. Prosecutors also allege money from investors was used to repay earlier investors in what they described as a Ponzi scheme. Investors were allegedly given false information about how their money was being used.
FBI asks potential investors to come forward
The FBI’s Chicago Division is asking people who believe they invested through Cloth, Creative Wealth or related entities to provide information through an online questionnaire. The alleged conduct may involve film projects, gaming platforms or other investment arrangements.
Ontario regulator pursues separate case
The Ontario Securities Commission opened a separate enforcement proceeding in 2025 against Cloth and Creative Wealth. The regulator alleges the company raised more than $500 million for film and television projects and diverted about $70 million for other uses, including repayments to earlier investors.
The Canadian proceeding is separate from the U.S. criminal case. Cloth is presumed innocent unless proven guilty, and federal prosecutors must prove the charges beyond a reasonable doubt. The U.S. case will now proceed through the federal court process as investigators continue seeking information from possible investors.
