Hollywood’s legendary B-movie king ROGER CORMAN is embroiled in his own personal “Little Shop of Horrors” after a Ponzi schemer allegedly scammed $60 million from him, according to a blockbuster new lawsuit.
Roger, 88, who famously launched the acting careers of such stalwarts as Jack Nicholson and filmmaking legends Martin Scorsese and Francis Ford Coppola after striking drive-in gold with his series of Edgar Allan Poe/Vincent Price films may be facing financial ruin.
Roger who netted an honorary Oscar in 2010 for his no-holds-barred style of low budget filmmaking and his mentoring of fresh talent like Robert DeNiro and Ron Howard was also responsible for introducing Europe’s biggest filmmakers like Ingmar Bergmann to U.S. audiences through his distribution company.
The NY Post reported that Roger and his producer wife Julie's finances could be imperiled after $73 million of it was unwittingly invested by a hedge-fund manager, according to a bombshell lawsuit filed this week.
According to legal papers, the money was funneled into a Ponzi scheme run by Alphonse “Buddy” Fletcher in 2008 despite finance company Citco’s promise to keep the money “safe (and) secure”.
While $13 million has been recovered another $60 million is still reputedly unaccounted for.
Roger’s attorney Don Howarth told the NY tab, “He doesn’t have any idea he has his own ‘Little Shop of Horrors’ brewing with his investment manager.
“It’s like something right out of his horror movies — a nightmare.”
A Citco spokesman declined to comment to media on the lawsuit.
