Hollywood Director Charged with $11M Netflix Fraud

Carl Erik Rinsch, director of '47 Ronin,' faces up to 90 years in prison for allegedly misusing funds intended for a sci-fi series on cryptocurrency and luxury items.

Carl Erik Rinsch was arrested and charged with wire fraud and money laundering after allegedly defrauding Netflix of $11 million intended for the sci-fi series 'White Horse,' later renamed 'Conquest.'
Prosecutors claim Rinsch transferred the funds to personal accounts, losing over half in risky securities trades before profiting from cryptocurrency investments.
He allegedly spent $10 million on personal luxuries, including $3.7 million on furniture, $2.4 million on luxury cars, and $652,000 on watches and clothing.
Despite receiving $55 million in total funding, Rinsch failed to deliver any episodes of the series, leading Netflix to cancel the project in 2021.
If convicted on all charges, including wire fraud and money laundering, Rinsch faces a maximum sentence of 90 years in prison.