LOS ANGELES – Jonathan Lee Smith, a 41-year-old resident of Koreatown, was sentenced to 12 months and one day in federal prison for defrauding a private lender out of $2 million.
Smith, who managed and owned two Hollywood-based production companies, Hoplite Entertainment Inc., and Hoplite Inc., falsely represented that his companies had accounts receivable of $3,348,000 to convince a private lender to fund a $2 million loan in 2020.
He submitted falsified license agreements and other forgeries to back up the claim, and the victim lender agreed to the loan, transferring $1,951,416 to a Hoplite Entertainment bank account on September 30, 2020.
However, the loan was never repaid, and Smith falsely represented that payment was imminent to convince the private lender to give him additional time to repay the loan.
The private lender was left with a loss of $2 million due to Smith’s false pretenses.
Smith will also have to pay $2 million in restitution as part of his sentence.
Jonathan Lee Smith, 41, of Koreatown, was sentenced by United States District Judge John F. Walter.
The FBI investigated this matter, and the United States Trustee’s Los Angeles Office provided assistance.
Assistant United States Attorney Alexander B. Schwab of the Major Frauds Section prosecuted this case.
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Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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