Three LA-area men have been arrested and a local woman has agreed to surrender in a scheme to defraud hundreds of people who invested in a company called Gigapix Studios that claimed to be producing a 3D animated version of The Wizard Of Oz. A federal grand jury handed down a 36-count indictment on May 15, and they were unsealed yesterday. The FBI arrested Christopher Blauvelt, 58, of Woodland Hills, David Pritchard, 66, of Malibu, and Gregory Pusateri, 49, of Woodland Hills; and Cheri Brown, 65, of Studio City will turn herself in soon. The charges include mail fraud, wire fraud, attempted wire fraud and offering for sale unregistered securities. ...
It looks as though some investors and a Canadian production studio got hosed.
Arc Productions in Canada was going to produce the animation and has filed a claim against Gigapix. ...
Nothing but heartache and sorrow.
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