Man pleads guilty in $14 million Netflix movie scam

Ben Miller
Man pleads guilty in $14 million Netflix movie scam

A Manhattan Beach, California man has pleaded guilty in a case where he scammed investors out of $14 million when he claimed to be making films for Netflix Inc. Adam Joiner, 41, who was arrested in August, entered a guilty plea to one count of wire fraud in Los Angeles on Friday. According to the government, Joiner told investors that their money would be used to produce a feature film that Netflix (Nasdaq: NFLX) would distribute and that would involve several notable Hollywood figures. Instead, the FBI alleges, Joiner took the money and bought himself a $5 million Manhattan Beach home and allegedly used another $4.3 million on another film.