Director Carl Rinsch was sentenced Monday to 2.5 years in prison for defrauding Netflix of $11 million. He was also ordered to pay $11 million in forfeiture and a $700 fine, along with three years of supervised release.
Rinsch, 48, was found guilty last year of wire fraud, money laundering, and engaging in monetary transactions in property derived from specified unlawful activity in connection with funds he received from Netflix for an original sci-fi series titled “White Horse.”
During his sentencing, Rinsch addressed the court, apologizing and accepting responsibility for his actions. He had faced a maximum of nine years in prison.
Ahead of the sentencing, actor Keanu Reeves, who previously worked with Rinsch on the 2013 film “47 Ronin,” wrote a letter to the court in support of the director.
Investigators determined that Rinsch diverted the $11 million from Netflix into a personal account. He then used these funds for speculative cryptocurrency trading and personal expenses.
A lawyer for Rinsch declined to comment on the sentencing.