Thursday’s lawsuit was filed by a Chinese animation and visual effects studio alleging it was the victim of two American scammers who forged documents, impersonated its CEO and conned investors for $234 million.
Base FX, headquartered in Beijing, states that it was duped into trusting the two men — Remington Chase and Kevin Robl — over the course of several years, in which they engaged in several financing arrangements and a joint venture in Malaysia.
Over the past year and a quarter, however, the company found that the men were using the relationship to lure investors. They signed over $234million in what they believed were loans and investments in company projects and the company. Base FX alleges that Chase and Robl forged the signature of the company’s CEO on investment documents, created fake entities and bank accounts, had someone pretend to be the CEO in calls with investors, and set up a fake office for the company in Pasadena, Calif. The company cannot account for the funds and claims that Robl and Chase have siphoned millions of dollars off of it for their personal use.
Base FX employs approximately 450 people and has done effects work on blockbusters such as “The Avengers,” “Captain America,”And “Iron Man,”TV series also available “The Mandalorian” and HBO’s “Boardwalk Empire.”An animated film was also produced by the company. “Wish Dragon,”This film was made available on Netflix in China, and other countries.
Investors who were conned into investing in the company are now making angry demands of them and suing them. According to the lawsuit, the company has informed the FBI. Chinese detectives also began a probe and detained at most one Chinese national.
Robl and Chase’s whereabouts are not known. Robl has not responded to requests for comment. An attorney representing Chase in a separate, unrelated case brought by the Securities and Exchange Commission declined comment.
Chase is known to his friends as “Bill,”A former film producer, he contributed funding for several action films between 2012 and 2014. “End of Watch,” “Lone Survivor”And “Escape Plan.”In 2014, L.A. Weekly reportHe and Stefan Martirosian were each convicted of cocaine trafficking and both had worked as federal informants.
Chase eventually left public view, but he maintained his relationships in the entertainment business.
The CEO of Base FX, Chris Bremble, was introduced to Chase in 2013 by the company’s agency, United Talent Agency. Base FX was looking for ways to expand its special effects division and produce live-action and animated movies. Chase was presented as an a “proven and successful financier,”According to the lawsuit. According to the lawsuit, Chase was also supported by Film Finances Inc.’s CEO in 2015. He told Bremble that Chase had been a friend and business partner over the years.
Chase was a courtroom partner of Base FX for many years in what the lawsuit calls “a relationship that is mutually beneficial.” “long con.”Chase invited Bremble in his Hawthorne Municipal Airport hangar. Chase then introduced Chase to Elon Muss, who he seemed to be having a relationship with. On a separate occasion, Chase flew Bremble in his helicopter to Kevin Costner’s house. According to the complaint, Costner met them on their front lawn and they had lunch together.
Chase offered financing to Bremble in 2017. Chase provided financing “Wish Dragon,”An animated co-production of Base FX, Sparkle Roll, and Sony. In return for 46% equity, the joint venture also funded a new visual effects studio, in Malaysia.
Chase also vouched for Robl, his associate and script writer, who was also involved in film financing. In 2020, President Trump appointed Robl to the President’s Advisory Committee on the Arts of the John F. Kennedy Center for the Performing Arts. According to campaign finance records, Robl had contributed $100,000 to Trump’s campaign and to Republican National Committee in September 2019.
According to the lawsuit, once Base FX went into business with Chase and Robl, the two gained intimate knowledge of the company’s finances and operations, which they could use to deceive potential investors. The suit alleges that Chase and Robl would borrow from investors in the company’s name, pass on a portion to the company, and then pocket the difference. They also purported to transfer equity and security interests in Base FX’s projects to the investors, according to the suit.
Base FX offered Chase a 5% equity interest in the company and a portion of potential profits in 2019. “Wish Dragon,”In consideration of the investments he had made. Chase also sold his stake at the Malaysia studio. It was in its early stages and about to fail.
The SEC An announcement of a civil matterIn September 2020, Chase was charged with defrauding investors in Knightsbridge Entertainment. The SEC charges — which Chase agreed to settle without admitting to wrongdoing — alleged that he had diverted $9 million of investor funds to his own personal use, including $1.8 million to pay credit card bills, $1.5 million to make a gift to the University of Southern California, and nearly $1 million to purchase several Teslas.
Knightsbridge raised $62million in total. Only a third went to the stated purposes. Other funds were used to repay unrelated obligations according to SEC.
Base FX claims that investors began to contact Base FX to demand payment on loans they received through Chase or Robl in November 2020. Base FX was then able to unravel the complex web of forgeries, according to the suit. Throughout 2021 and into early 2022, Base FX received a series of repayment demands totaling $234 million — far exceeding the $50 million enterprise value of the company.
Bremble was confronted by Robl after being hit with a demand to repay a $100 million credit line. “apologized, and pled with the Base CEO not to contact the authorities, promising to pay back all the funds,”The suit states.
According to the suit Bremble also confronted Chase regarding one of the forged documents.
“Defendant Chase admitted that Defendants had created the forged document, and assured Base’s CEO that Defendants would repay all funds owed to investors,”The lawsuit states. “Base has since learned, however, that Defendants have not repaid their investors and continue to raise funds by wrongfully claiming to be affiliated with Base.”
Base FX was accused of suffering “severe reputational harm throughout the entertainment industry,”Now, the company is faced with defending itself against a number of lawsuits from investors.
Fang Fang Ho and Paul Liang, investors, filed a federal lawsuit against Chase, Robl and Bremble seeking to recover nearly $41 million. According to this suit, Chase and Robl invited Liang and Ho to the premieres at Chase. “Wish Dragon” and HBO’s “Westworld,”To the set of “Willy’s Wonderland,”The film of Nicolas Cage was being shot in Georgia. Chase, a former child actor claimed that he was childhood friends with Kathleen Kennedy. “Star Wars”According to the suit, producer
Bremble is also accused of reassuring investors that Robl and Chase were trustworthy. The suit states that plaintiffs received regular payments from Chase and Robl until 2019, when a delayed payment occurred. In 2020, the payments were stopped entirely. Investors sought repayment in 2020 and 2021. They were repeatedly assured that they would receive their money back. According to the suit on Jan. 27, 2022 the investors were sent a fake confirmation of a wire transfer.
Base FX suits reveal that Chase and Robl entered into fraudulent agreements to bundlers who would collect investments from many smaller investors. Richard Chung, one of these investors, filed suit against Chase, Robl and Bremble in Los Angeles on March 3. He claimed that he was not entitled to any profit share on a $600,000.000 investment. “Wish Dragon.”Claire He Yi and Wenqi Li also filed similar suits on December 16, alleging they owed $400,000 & $100,000, respectively. Three investment groups filed suit on Jan. 24 claiming they were conned out of $2.75million.
Na Wu, Guowen LIU, and XiofangYi invested sued Chase Robl and others in Orange County, Jan. 28. Base FX is not mentioned in this lawsuit. Plaintiffs claim that they made a $42million investment in post-production financing and banking companies, as well as aircraft leasing companies. According to the complaint they thought they would be eligible to apply for immigration visas and repay their loans. But Chase later revealed that he had stolen the funds. In the suit, Chase is also accused of forging their signatures to obtain deeds to three Orange County properties worth $30 million. According to the suit, they discovered the theft in December when they noticed that the locks had been changed.
Base FX is represented in Pillsbury Winthrop Sharp Pittman LLP by Aaron Dyer and Kimberly Jaimez. The Base FX suit seeks damages — including recovery of the 5% equity stake granted to Chase — as well as an order barring Chase and Robl from raising funds in the company’s name.
A spokesperson from the FBI declined comment.