These are some of the potential pitfalls that can occur when investors and movie producers get together and make decisions....

Movie Director Sentenced for Abusing Film Tax Credits

A film director and his producer who inflated their movie expenses while shooting two movies on Cape Cod in order to claim larger Massachusetts film tax credits has been sentenced to between two and three years in prison and 10 years’ probation.

Daniel Adams pleaded guilty in April to charges of larceny and making a false claim. Adams received over $4.7 million in tax credits for the 2009 movie “The Lightkeepers,” starring Richard Dreyfuss, and the 2008 picture “The Golden Boys,” with the late David Carradine.  They both included scenes on Cape Cod.
Among the inflated expenses claimed was one for $2.5 million to Dreyfuss, when in fact the “Jaws” star only received $400,000.