Making movies in Hollywood costs a lot of money, so film producers are often looking for investors to bankroll what they hope will be a blockbuster. CBS News has learned some Hollywood producers are using telemarketers to cold call Americans, convincing them to make risky investments.
Law enforcement tells CBS News it’s a widespread fraud worth hundreds of millions of dollars over more than a decade, and CBS News has now spoken to more than a hundred investors who never saw their money again after sending a check to a voice on the phone.
Bette Anderson remembers the day her phone rang at her house in Minnesota. She says the voice on the other end offered her a guaranteed way to make money, investing in movies. “They just prey on your hopes and dreams,” she said.
Asked if she thought she had stumbled across a pretty good deal, Anderson said, “Oh yeah. After having been laid off my job of 26 years, it provided some hope again for me. I just thought this was going to save my life, basically.”
She was sent a professionally produced documents with the names of famous writers and actors and was told she could make $1.5 million. In total, Anderson said she invested $315,000, and got nothing back.
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