Gabor Koltai

Film Fraud

22nd of Oct, 2011 by bontedonna

Gabor Koltai was arrested in November 2010 on major Hungarian tax fraud, blackmail, counterfeiting and organized-crime charges reportedly involving up to US$19 million and 35 never-completed feature films. He was remanded to the maximum-security Budapest Prison in near-solitary confinement awaiting trail. News reports stated he could get eight years in federal prison. Several newspapers reported he was arrested quickly, fearing he would escape arrest by traveling to Israel. The status of his film The Magic Boys with Michael Madsen is unknown, since the film has no release date. Gábor Koltai's father and co-owner of Wyvern Images and Filmsziget, Robert Koltai, said in January 2011 the film would not be completed or released for years. Moroccan-born British businessman Abi Sirokh is the UK head of Wyvern, according to news reports and the company website; his whereabouts are unknown. In late April 2011 Koltai was released from federal prison and placed in police-supervised home confinement awaiting a trial originally set to begin August 22; however, it has been delayed. On September 16, 2011 Koltai's former business associates in North America, Albert Paramito and Priti Ramjee of Paramito Global Holdings (PGH), were indicted by the New Jersey State Attorney General and charged with money laundering, theft by deception and conspiracy. Newspapers report they could get up to 10 years in prison.

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