Ex-Hollywood Exec Pleads Guilty To $30M BlackRock Fraud

By Stewart Bishop (January 20, 2022, 6:24 PM EST) -- Hollywood executive William Sadleir admitted to defrauding a BlackRock Inc. investment fund of nearly $30 million by misappropriating part of the fund's investment in his film production and distribution company.

Sadleir pled guilty to two counts of wire fraud in a proceeding before U.S. District Judge Paul Engelmayer in Manhattan, prosecutors said Thursday, averting a trial that was scheduled to begin next week.

According to the government, Sadleir was behind two schemes to con BlackRock out of a chunk of the approximately $75 million the asset manager had poured into his company, Aviron Pictures LLC, by claiming Aviron used about $27...

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