A Texas man has admitted to selling more than $100,000 in ownership interests in several upcoming movies.
The problem is none of the films are real.
Shiva Chandan Reddy Thudi, 26, has pleaded guilty to ripping off people who thought they’d get returns on their investments, which actually went right into Thudi’s pocket, prosecutors say.
He’s due to be sentenced on July 29th.
Thudi scammed his victims by posing as a Hollywood producer and film distributor, court records indicate.
However, he actually had no connections in the film industry, says FBI agent Joseph Bonavolonta.
“Just like the films he pitched, it was all make-believe,” Bonavolonta says.
Sign me up for the Country 102.5 email newsletter!
Become a VIP member today and get access to exclusive contests, country music news, and be the first to know when your favorite artists release new music and are coming to town!
By clicking "Subscribe" I agree to the website's terms of Service and Privacy Policy. I understand I can unsubscribe at any time.