Russian crypto guru's Hollywood gambit

The stage was set for a night of glamour and redemption. On a mild August evening, as Hollywood stars paraded down the red carpet at the Venice Film Festival, Kevin Spacey was across the lagoon at the legendary Hotel Cipriani.

He arrived in the courtyard for a private party to showcase scenes from his latest film to a handpicked audience of about 40. Dressed in a red velvet blazer, Spacey posed for photos alongside his producer, a woman in a shimmering silver gown, before settling in to watch the trailer for “Holiguards Saga - The Portal of Force.”

For the Oscar-winning actor, the stakes were high: momentum for a potential comeback after sexual misconduct allegations derailed his career, leaving him teetering on the edge of bankruptcy.

For the film’s creator, Vladimir Okhotnikov, an accused Russian cryptocurrency fraudster, the stakes were even higher...