Hollywood Director Carl Rinsch Misappropriated $11 Million in Series Funds to Trade Stocks, Buy Crypto and Luxury Goods, Sentenced to 30 Months

CoinFeed June 30 news, according to The Block, the U.S. Department of Justice said that "47 Ronin" director Carl Erik Rinsch falsely claimed to the streaming platform that he needed an additional $11 million to complete the sci-fi series "White Horse", but instead transferred the funds to his personal account for stock option trading, cryptocurrency speculation and luxury consumption, and was sentenced to 30 months in prison. Netflix had paid him about $44 million from 2018 to 2019, and later an additional $11 million.