The Alleged Ponzi Scheme

The Alleged Ponzi Scheme

JJMT Capital, a Chicago-based investment firm, has recently come under scrutiny due to its involvement in an alleged Ponzi scheme in the Hollywood film industry. The firm, founded by Indiana University alumni Jacob Wunderlin, Joseph deAlteris, and Schweinzger, invested heavily in promissory notes issued by a company called 1inMM, which claimed to license movies and sell them to major streaming platforms like HBO and Netflix. However, investigations have revealed that the scheme was nothing more than a fraudulent operation, resulting in significant financial losses for investors and legal consequences for those involved. This article will provide an in-depth analysis of JJMT Capital’s role in the Ponzi scheme, its legal implications, and the impact on the individuals and institutions associated with the firm.


The Alleged Ponzi Scheme

According to multiple sources, including Forbes and Law360, JJMT Capital invested substantial amounts of money in promissory notes issued by 1inMM . The company claimed to have licensing agreements with major streaming platforms, leading investors to believe that their investments would yield significant returns. However, investigations have revealed that 1inMM’s licensing agreements were fabricated, and the company was not engaged in any legitimate business activities . Instead, it appears that the funds raised from investors were used to pay off earlier investors in a classic Ponzi scheme fashion.

JJMT Capital’s Involvement

JJMT Capital played a significant role in financing the alleged Ponzi scheme. The firm, led by its founders Wunderlin, deAlteris, and Schweinzger, invested not only their own personal funds but also money from other investors, including family, friends, and associates. It is estimated that JJMT Capital invested over $160 million in the fraudulent scheme . The firm’s involvement raises questions about its due diligence processes and the level of oversight exercised by its founders.

Legal Consequences

As news of the Ponzi scheme broke, legal action was taken against JJMT Capital. Attorneys from the firm of Loftus & Eisenberg filed a class-action lawsuit against JJMT Capital in Cook County Circuit Court . The lawsuit alleges that JJMT Capital, despite being registered as a corporation in Delaware, has its headquarters and members located in Chicago and Cook County . The legal action seeks to hold JJMT Capital accountable for its role in the Ponzi scheme and recover losses for the affected investors.

Impact on Individuals and Institutions

The fallout from the alleged Ponzi scheme has had far-reaching consequences for individuals and institutions associated with JJMT Capital. Acrisure, a global insurance brokerage firm, saw its CFO step down due to his involvement in the scheme . The reputation of JJMT Capital and its founders has been tarnished, raising concerns about their ability to attract future investors and conduct business in the financial industry.


The involvement of JJMT Capital in an alleged Ponzi scheme in the Hollywood film industry has raised serious questions about the due diligence processes and oversight exercised by the firm’s founders. With legal action underway, the full extent of the firm’s liability and the recovery of losses for affected investors remain uncertain. The fallout from the scheme has also had a significant impact on individuals and institutions associated with JJMT Capital, including legal consequences and reputational damage. As investigations continue, it is crucial for investors to exercise caution and conduct thorough due diligence before engaging with any investment opportunities.

Sonia Awan

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