Carl Rinsch Sentenced After Prosecutors Cite Cars, Crypto and Luxury Spending
Hollywood writer-director Carl Erik Rinsch was sentenced to 30 months in prison after federal prosecutors said he stole $11 million meant to complete a sci-fi television project and used the money for speculative investments and luxury purchases.
The U.S. Attorney’s Office for the Southern District of New York said Rinsch received the money from a subscription streaming company for a planned series called “White Horse.” AP and other outlets have identified the company as Netflix.
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Prosecutors said Rinsch lost more than half the money on stock options within two months, then spent remaining funds on cryptocurrency, credit card bills, furniture, antiques, mattresses, a Swiss watch, five Rolls-Royces and a Ferrari.
The case is also drawing social attention because of the luxury-spending details and Keanu Reeves’ reported request for leniency. Rinsch was also sentenced to three years of supervised release and ordered to forfeit $11 million.
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