47 Ronin Director Charged with Wire Fraud for Alleged Cryptocurrency Expenditures
Conviction Details: Carl Erik Rinsch, director of 47 Ronin, was convicted of wire fraud and money laundering for misappropriating $11 million from Netflix intended for a science fiction series, with a maximum potential sentence of 90 years in prison.
Misuse of Funds: After receiving additional funds from Netflix, Rinsch failed to complete the series and instead used the money for personal expenses, including luxury items and digital assets, losing over half of it in unsuccessful trades.
Prosecutor's Statement: U.S. Attorney Jay Clayton emphasized that Rinsch's actions betrayed the trust of investors and highlighted the commitment to hold individuals accountable for financial misconduct.
Legal Implications: Rinsch's attorney argued that the conviction could set a precedent for federal fraud charges in contractual disputes between artists and their financial backers.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
