A film director accused of running a $21 million ponzi scheme involving the film “Not Forgotten” was dismissed of all charges Friday.

Dror Soref, 66, and Michelle Seward, 44, were both charged 56 counts of securities fraud and the sale of unregistered securities, according to the Los Angeles County District Attorney’s Office.

“The case was dismissed after not being held to answer at the preliminary hearing,” Ricardo Santiago, spokesman for District Attorney’s Office.

Seward, a Valencia woman, is due in back in court next week — her case has not been dismissed.

The California Department of Insurance alleges that Soref worked with former state registered insurance agent Seward, offering to sale securities that did not meet Corporations Code requirements.

The alleged ponzi scheme, is said to have tricked investors in Kern and Los Angeles County out of $21 million dollars, according to a news release.

In some cases, Seward talked clients into surrendering annuities early and paying large penalties by promising returns of between 10 and 18 percent, according to the news release.

Investors that surrendered annuities paid more than $600,000 in penalties and fees for early withdrawal, the news release said.

Soref is an award winning filmmaker who began his career directing parody music videos with “Weird Al” Yankovic, according to his biography on the IMDB website.

Soref was nominated for a Gold Hugo Award at the Chicago International Film Festival for his work directing the short film “Platinum Blond,” according to IMDB.