Jason Cloth Resigns as Cohead of C2 Amid Allegations of Fraud

Canadian financier and producer Jason Cloth has made the decision to step down as cohead of C2 Motion Pictures Group, the company he co-founded in 2022. This move comes amidst ongoing allegations of fraud and a recent Florida court order requiring Cloth to pay $19.6 million. Dave Caplan, Cloth’s co-founder, has assumed the role of sole CEO of C2, as announced by the company on Tuesday.

In a statement to the media, Cloth expressed his confidence in Caplan’s leadership, stating, “When Dave and I founded this company, we had a shared vision for the types of successful movies we hoped to make and the kind of company we wanted to build.” He emphasized that the decision to step down reflects the reality of the situation over the past several months.

Caplan, in turn, praised the accomplishments of C2 under Cloth’s guidance and expressed optimism for the company’s future. He acknowledged Cloth’s integral role in the company’s formation and emphasized their continued friendship.

Recent executive producer credits under the C2 banner for Caplan include notable films such as “Joker,” “Monkey Man,” and the upcoming “Mission: Impossible – Dead Reckoning Part Two.”

Cloth’s departure follows a Florida judge’s ruling that he defrauded an investor of millions of dollars across several films, including “Ghostbusters: Afterlife” and “Monkey Man.” Cloth was ordered to pay approximately $19.6 million in charges after failing to mount a defense in the trial.

This verdict is not the first time Cloth has faced such allegations. He and former financing company Creative Wealth Media have been embroiled in four other lawsuits since 2021.

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The recent legal developments stem from allegations that Cloth failed to repay $6 million in loans made by Robert Harris’ investment studios for the production of multiple films and TNT’s NBA draft docuseries “The Pathway.” Cloth faces additional class action lawsuits in Chicago for defrauding other investors to the tune of $80 million.