Director Carl Erik Rinsch was arrested in West Hollywood, California, charged with wire fraud and money laundering.
$11M Fraud
According to the indictment, Rinsch reached a deal with a major streaming platform in 2018 for $44 million to complete the production of 'White Horse.' In 2020, he requested an additional $11 million, transferred to his company on March 6. Rinsch then moved these funds to a personal brokerage account, engaging in speculative securities trading, resulting in losing more than half of the sum within two months.
Charges Against Rinsch
The 47-year-old director has been charged with one count of wire fraud, one count of money laundering, and five counts of engaging in financial transactions involving criminally obtained property. If convicted, he faces up to 20 years in prison for each count of wire fraud and money laundering, and 10 years for each financial transaction charge.
Previous Financial Scandals
In 2023, 'Conquest' director Carl Erik Rinsch reportedly used $4 million from the show's budget to invest in Dogecoin, earning a $27 million return. Much like the current case, his crypto profits were followed by a lavish spending spree.
Rinsch faces serious allegations of financial misconduct that threaten his career and future. A lengthy legal battle and potential prison sentences lie ahead for each of the charges.
