Los Angeles-based film and television writer and director Carl Erik Rinsch has been charged with a $11 million fraud scheme in connection with a planned science fiction television show called ‘White Horse.’
According to federal prosecutors, Rinsch, 47, of Los Angeles, California, orchestrated a scheme to steal millions by soliciting a large investment from a subscription video on-demand streaming service (Streaming Company-1) in 2018. The company paid Rinsch approximately $44 million for White Horse, and then agreed to pay another $11 million to complete the show in 2020.
However, instead of using the funds to complete White Horse, Rinsch allegedly used the money to make personal and speculative purchases, including credit card bills, lawyers’ fees, luxury items, and investments in cryptocurrency. By the time Rinsch lost most of the $11 million, he still did not spend the remaining funds on White Horse.
The FBI arrested Rinsch on March 6, 2020, and he will be presented later today in the Central District of California. If convicted, Rinsch faces up to 20 years in prison on the wire fraud charge and up to 20 years on the money laundering charge.
Rinsch is also charged with five counts of engaging in monetary transactions in property derived from specified unlawful activity, which carries a maximum sentence of 10 years in prison for each count.
The case is assigned to U.S. District Judge Jed S. Rakoff. Acting U.S. Attorney Matthew Podolsky said, ‘As alleged, Carl Erik Rinsch orchestrated a scheme to steal millions by soliciting a large investment from a video streaming service, claiming that money would be used to finance a television show that he was creating. But that was fiction.’
Rinsch’s arrest is a reminder that this Office and our partners at the FBI remain vigilant in the fight against fraud and will bring those who cheat and steal to justice.’
Defendant: Carl Erik Rinsch
Criminal Charges: One count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions in property derived from specified unlawful activity
City and State: Los Angeles, California
Exact Date: March 6, 2020
Sentence or Outcome: Currently pending
Dollar Amounts: Approximately $44 million, $11 million
Related Federal Cases
- James Trolice, Mail and Wire Fraud, New York 2024 · Connecticut
- Nikhil Mahtani, Ticket Fraud, New York 2024 · New York
- Anuli Okeke, Conspiracy to Commit Bank and Wire Fraud, New York 2023 · California
- Kenneth Thom, Investment Fraud Scheme, New York 2024 · New York
- Enrico Carini, Securities Fraud Conspiracy, New York 2024 · Georgia
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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