Helpful article by Sky Moore, well respected Hollywood entertainment attorney.
Filmmakers need to be aware of the scammers out there trying to take advantage of our enthusiasm.
Here are a few of my tips:
1. Never pay upfront for a financing opportunity. This is a red flag.
2. Do your due diligence. Know with whom you are dealing.
3. If it sounds too good to be true, it might be.
4. Consult an attorney.
5. Consult an attorney.
6. Get it in writing.
How to Spot Schemers and Dreamers in Hollywood by Schuyler Moore / Forbes.
https://www.forbes.com/sites/schuylermoore/2023/08/01/how-to-spot-scheme...
Common scam technique is to convince you to cover loan origination or legal fees upfront.
3 people like this
Absolutely - good advice been caught recently by one, just a waste of time. From my experience there’s tons of them in various guises who pretend to be either a hot shot producer who can get your film made or a financier. Sometimes they ask for money up front to cover their expenses or a monthly retainer, ask to meet you for lunch and expect you to pay. Or they pretend to be a financier with all these secret amazing finance connections. So sad to say these are usually middle aged men who have failed in life in general and sniff out the desperation to get finance, from to be honest most of us. What do they get off it? Vicarious power and living on the edge of a world to which they wished they really belonged. They talk the talk and can be very charming but are a complete waste of time!
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Great tips, Jack Binder. I do due diligence before I work with anyone. And yes, get it in writing! Thanks for sharing the article.
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Thank you, Jack Binder! This is such a helpful article!
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Excellent post and share. If it's not in the deal in writing it isn't happening. Great for all community members to read!
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So simple but powerful. Its the basics which people often overlook getting them into trouble later down the line
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Thank you for sharing this.
Some of the advice in the article might sound like no brainers but I know from personal experience that once you get your hopes up too much you just might stop thinking clearly and forget those rules. Therefore you can not be told often enough about this.
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Yeah really good article, I wish i had read it 23 years ago when i first started meeting investors. Lots of really important bits of information in this article thank you!