CHICAGO — A federal grand jury has indicted Beverly Hills film producer Jason Cloth for allegedly defrauding clients and other investors of more than $100 million through purported film, entertainment and gaming investments.

Cloth, 60, faces seven counts of wire fraud. He was arrested in Los Angeles on July 28 and made his initial federal court appearance the same day.

According to the indictment, Cloth operated Canada-based Creative Wealth Media Finance Corp. and solicited investments between 2019 and 2026. Prosecutors allege that he misrepresented the performance and value of the investments while diverting money to other purposes, including the development of a Canadian real estate project.

Cloth is also accused of operating a Ponzi scheme by using money from new investors to repay earlier investors. Prosecutors are seeking the forfeiture of at least $12.25 million connected to the projects identified in the indictment.

Each wire fraud count carries a maximum sentence of 20 years in federal prison. An indictment is not evidence of guilt, and Cloth is presumed innocent unless proven guilty beyond a reasonable doubt.

Potential victims may submit information to the FBI at fbi.gov/jasonclothvictims