Career
Cloth founded Creative Wealth Media, operating through several associated entities: Creative Wealth Media Lending Inc., Creative Wealth Media Finance Corp., and Creative Wealth Media Advisors Inc. All were headquartered in Toronto. The company operated with a small staff of around 11 employees, using in-house legal, accounting, and business affairs teams to assess projects rather than expanding its headcount.1
The defining relationship of Cloth's career was a financing partnership with Aaron Gilbert's BRON Studios, formalized under the banner Bron Creative. Cloth described the arrangement as essential to the company's survival: "if you work on your own as a film financier you're going to get killed. So it was Bron that got us through the early years."1 Through Bron Creative, Cloth secured co-financing deals with major studios including Warner Bros. and Sony, providing production loans that enabled a large portfolio of awards-contending and commercial films.
The partnership signed a six-picture financing deal at the end of 2018, covering films such as Joker, The Mule, Isn't It Romantic, The Kitchen, and Ben Affleck's The Way Back. Over subsequent years, the Bron Creative portfolio grew to include Bombshell (2019, Lionsgate), Greyhound (2020, Apple TV+), Queen and Slim (2019), Pieces of a Woman (2020, Netflix), Judas and the Black Messiah (2021, Warner Bros.), Ghostbusters: Afterlife (2021, Sony), Fences (six Oscar nominations), Licorice Pizza (2021), Monkey Man (2024, Netflix), Thirteen Lives (2022, MGM/Amazon), Fatherhood (2021, Netflix), and The Man from Toronto (2022, Netflix).12
Cloth described his approach to creative involvement as deliberately hands-off: "We're not there to tell Todd Phillips how to direct or Joaquin Phoenix how to act."1
C2 Motion Picture Group
In 2022, Cloth co-founded C2 Motion Picture Group with Dave Caplan. The new company was explicitly positioned as the next stage beyond Creative Wealth, with Cloth stating that Bron "doesn't factor into C2 at all" and treating the prior venture as a cautionary model for risk management.3 C2 was capitalized through Canadian pension funds and high-net-worth family offices and focused on two tracks: co-financing major studio tentpoles (with a particular focus on Paramount) and fully financing independent genre projects in the $8-15 million budget range.
Through C2, Cloth served as executive producer on Mission: Impossible, Dead Reckoning Part One (2023), Transformers: Rise of the Beasts (2023), Dungeons & Dragons: Honour Among Thieves (2023), Babylon (2022), Longlegs (2024), Goodrich (2024), and Azrael (2024).3
Cloth stepped down from his role as co-head of C2 in 2023 as fraud allegations against him became public, with Dave Caplan assuming sole CEO responsibilities.2
Ghostbusters
Ghostbusters: Afterlife (2021)
Cloth served as executive producer on Ghostbusters: Afterlife, the 2021 Sony Pictures film directed by Jason Reitman, produced by Ivan Reitman, and co-written by Jason Reitman and Gil Kenan. His involvement came through the Bron Creative partnership with BRON Studios; BRON Creative U.S.A. Corp. is credited in the film's copyright notice alongside Columbia Pictures Industries, Inc.
Cloth was one of eight executive producers on the film. The others included Dan Aykroyd, Gil Kenan, Jason Blumenfeld, Michael Brugg, Aaron L. Gilbert, Tom Pollock, Amie Karp, and Joe Medjuck.
Legal proceedings
Beginning in 2021, Cloth and Creative Wealth Media became the subjects of a series of investor lawsuits. A class action filed in Chicago alleged Cloth defrauded investors of more than $80 million across multiple productions, including Ghostbusters: Afterlife and Monkey Man.4 Additional suits alleged fraudulent investment solicitation and failure to repay production loans.
In May 2024, a jury in West Palm Beach, Florida found Cloth liable for defrauding investor Robert Harris in connection with The Pathway, a TNT docuseries about the NBA draft. The jury determined Cloth had misrepresented that the series had been greenlit for five seasons when it ran only one, and had falsely claimed Harris would be the sole funding source and first in line for repayment. Harris's company had loaned $6,573,024 at 15% interest and received no repayment. The jury awarded $6.6 million in actual damages and $13 million in punitive damages, for a total verdict of $19.6 million. Cloth did not appear at trial.4
In March 2025, the Ontario Securities Commission (OSC) announced formal fraud allegations against Cloth and Creative Wealth Media Finance Corp. The OSC alleged that Cloth raised more than $500 million from investors in Ontario and the United States by representing that the funds would be used to provide loans to film, television, and animation producers, then diverted at least $70 million to unauthorized uses, including a real estate development, and to repay earlier investors in a pattern consistent with a Ponzi scheme.5
Creative Wealth Media filed for bankruptcy in October 2023. BRON Studios, whose operations were closely linked to Creative Wealth financing, also filed for bankruptcy, reporting approximately $420 million in liabilities against $148 million in assets. Cloth attributed Creative Wealth's inability to repay investors to BRON's collapse.2
