Manhattan Beach Man Scammed $14M From Investors For Fake Netflix Movie

LOS ANGELES (CBSLA) – A 41-year-old Manhattan Beach man was arrested Tuesday on allegations that he conned investors into giving him $14 million to fund a bogus movie for Netflix.

Adam Joiner surrendered to federal authorities on charges of wire fraud, money laundering and aggravated identity theft.

According to the Department of Justice, beginning in 2015, Joiner met with several foreign investment firms with a screenplay for a movie called "Legends" which he described as a mash-up of historical figures from the 19th century, including Davy Crockett, Calamity Jane, Paul Bunyan and John Henry.

He falsely told them that Netflix had already agreed to distribute the movie, prosecutors say, and gave potential investors a fake distribution agreement.

Joiner, through his bogus company "Dark Planet Pictures," received $4 million from a South Korean investment firm called Korean Investment Partners (KIP), and another $6 million from Chinese investment firm PGA Yungpark Capital, according to the criminal complaint filed earlier this month.

In late 2016, Joiner told the investors that he had ended his agreement with Netflix and entered into a new one with Amblin, which then prompted KIP to wire him another $4 million.

Prominent Hollywood producer Don Murphy was brought on to produce the purported film, but left the project in 2017, the complaint reads. No actors or directors ever signed on to the fake movie.

Joiner used $5 million of the money he received to buy a house in Manhattan Beach, prosecutors say.

If convicted as charged he faces a maximum sentence of 20 years prison for the wire fraud charge and another 10 years in prison for money laundering.