U.S. federal authorities have arrested filmmaker Carl Erik Rinsch for allegedly misusing millions of dollars meant for a sci-fi television series.
Arrest and Charges
On March 18, prosecutors charged Rinsch with fraud and money laundering, offenses that could carry a sentence of up to 20 years each.
Use of Funds
According to the indictment, Rinsch received $11 million from a major streaming platform in March 2020 for the production of *White Horse*. Instead, he allegedly transferred $10.5 million into a brokerage account, engaging in risky stock trades. His cryptocurrency investments yielded profits but were allegedly spent on luxury items instead of the series.
Consequences and Current Situation
Rinsch reportedly spent $1.8 million on credit card debts and $1 million on legal fees. The project was subsequently canceled in 2021 due to his erratic behavior.
Rinsch is under investigation, facing serious charges, and his case is being prosecuted in federal court with the potential for a significant legal outcome.
