The CEO of two Hollywood production companies that specialize in reality-television programming was sentenced to 12 months and one day in federal prison for fraudulently obtaining a $2 million business loan using fabricated documents and by misrepresenting his companies’ financial circumstances, according to a DOJ press release. Jonathan Lee Smith was sentenced by U.S. District Judge John F. Walter, who also ordered Smith to pay $2 million in restitution. Smith managed and owned two Hollywood-based production companies, Hoplite Entertainment Inc., and Hoplite Inc. To convince a private lender to fund a $2 million loan in 2020, Smith falsely represented that his two companies had accounts receivable of $3,348,000, and he submitted falsified license agreements and other forgeries to back up the claim. Based on these and other misrepresentations, the victim lender agreed to the loan and, on Sept. 30, 2020, transferred $1,951,416 to a Hoplite Entertainment bank account. To convince the private lender to give him additional time to repay the loan, court documents state, Smith falsely represented that payment was imminent. He also emailed a fake record showing a $100,000 wire payment from Hoplite, Inc. to the lender. In fact, the loan was never repaid. Smith filed for chapter 7 bankruptcy relief on March 30, 2021, in the Central District of California.
