Los Angeles director and writer Carl Erik Rinsch was sentenced today to 30 months in prison for fraudulently stealing $11 million from a subscription video-on-demand streaming service. Rinsch, 48, was convicted in December 2025 for diverting funds intended for his science-fiction television show, "White Horse," to finance personal stock and cryptocurrency investments, as well as luxury purchases.
U.S. Attorney Jay Clayton for the Southern District of New York announced the sentencing, stating, "Carl Erik Rinsch orchestrated a scheme to steal millions by seeking $11 million from a subscription streaming service, falsely claiming that money would be used to finance a television show that he was creating." Clayton added, "Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself. Today’s sentence sends a deterrent message: fraud will not be tolerated."
Rinsch had initially secured approximately $44 million from Streaming Company-1 between 2018 and 2019 for "White Horse." In early 2020, he demanded an additional $11 million, which was transferred on March 6, 2020, specifically for the show's completion. However, Rinsch quickly moved these funds into a personal brokerage account.
Within two months, Rinsch lost over half of the $11 million speculating on stock options. The remaining funds were then used for cryptocurrency speculation and personal expenses, including at least $1.7 million on credit card bills, $3.3 million on furniture, $387,000 on a Swiss watch, and $2.4 million on five Rolls Royces and a Ferrari. In addition to the prison term, Rinsch was sentenced to three years of supervised release and ordered to forfeit $11 million.