According to a report by entertainment news site Deadline, this project was “acquired for producer Jennifer Todd under her first look deal at the studio.” Scott Z. Burns “will write and direct, and he’ll produce with Todd.”
Deadline says that Fake! is “based on the book by Jen McAdam with Douglas Thompson, based on the true-life story of Jen McAdam and her involvement with the OneCoin Ponzi scheme.”
OneCoin, which allegedly is the most infamous crypto-related Ponzi scheme in history, was “promoted as a cryptocurrency by Bulgaria-based offshore companies OneCoin Ltd (registered in Dubai) and OneLife Network Ltd (registered in Belize), both founded by Ruja Ignatova in concert with Sebastian Greenwood.” On 15 December 2019, the Sunday Times called OneCoin as “one of the biggest scams in history.”
Deadline’s report went on to provide further information about OneCoin:
“U.S. prosecutors allgeged that the scheme rake in $4 billion worldwide. Ignatova disappeared in 2017 near the time a secret US warrant was filed for her arrest and was replaced by her brother, Konstantin Ignatov.
“Most of OneCoin’s leaders have now disappeared or been arrested, thought Ruja Ignatova is still at large. Greenwood was arrested in 2018, as was Konstantin Ignatov in March 2019, who pleaded guilty to charges of money laundering and fraud.”
Apparently, McAdam was a victim of this Ponzi scheme; McAdam claims that, along with her friends and family, she “invested and lost close to $300K.”