Ex-Hollywood Executive Sentenced to 6 Years in Prison for Scamming BlackRock Fund


William Sadleir, who ran Aviron Pictures LLC, was convicted by US District Judge Paul Engelmayer Manhattan, and was also ordered to pay $31.6 million in forfeiture and restitution.

Sadleir, 68, of Beverly Hills, pleaded guilty in January to two counts of wire fraud for schemes related to the BlackRock Multi-Sector Income Trust closed-end fund, which invested $75 million in Aviron.

Prosecutors say Sadleir embezzled more than $25 million, including to buy a $14 million Beverly Hills mansion, claiming they were invested in prepaid media credits, and pretending to be for an advertising executive, “Amanda Stevens”, to send BlackRock emails.

They also said Sadleir forged the signature of a BlackRock manager for the sale of more than $3 million in assets that secured loans from BlackRock Aviron, which then defaulted on those loans.

Sadleir’s lawyers did not immediately respond to requests for comment.

Mr. Sadleir also pleaded guilty in March to receiving $1.7 million in loans from the Federal Paycheck Protection Program, allegedly to help Aviron pay its employees during the COVID-19 pandemic, although the company had already closed. its doors at that time.

Sentencing in the case is scheduled for September 28 in federal court in Los Angeles. Prosecutors at that court said they would recommend that the sentence be concurrent with Manhattan’s.

Sadleir’s lawyers had urged Engelmayer not to impose a prison sentence, saying the father of two young boys was “deeply sorry and embarrassed by his crimes” and there was “no chance” of a recurrence.

Aviron had notably shot “Kidnap” by Berry and “Serenity” by McConaughey and Anne Hathaway.



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