Hollywood producer arrested in alleged $30m fraud scheme

The ousted chairman of a movie production and distribution company was arrested in Los Angeles on Friday for his alleged role in a nearly $30 million fraud scheme and for bilking a COVID-19 fund set up to help businesses.
William Sadleir, 66, of Beverly Hills, was taken into custody by FBI agents and other law enforcement following complaints filed both in California and New York.
Prosecutors say Sadleir, the former head of indie distributor Aviron Pictures, fraudulently filed bank loan applications seeking more than $1.7 million from a federal scheme set up in the wake of the pandemic.
Sadleir allegedly made false statements claiming he still had a role at Aviron in order to obtain the forgivable loans.