**Hollywood Director Convicted of $11 Million Netflix Fraud**
A Hollywood director has been found guilty of defrauding Netflix out of $11 million for a non-existent show, diverting the funds for extravagant personal expenses instead. Carl Erik Rinsch, known for directing “47 Ronin,” was convicted on charges including wire fraud and money laundering, as confirmed by court records and federal prosecutors in New York.
Rinsch’s attorney, Benjamin Zeman, expressed disappointment with the verdict, arguing it could set a troubling precedent for artists facing contractual disputes with major corporations like Netflix.
Initially, Netflix had paid Rinsch approximately $44 million for a sci-fi series titled “White Horse.” After he requested additional funding to complete the project, the streaming giant sent him another $11 million. However, instead of investing the money into the show, Rinsch transferred it to a personal account, where he made a series of unsuccessful investments, losing nearly half of the funds within months. He later invested the remaining amount in cryptocurrency, yielding some profit, which he subsequently deposited into his own bank account.
Prosecutors detailed Rinsch’s lavish spending, which included the purchase of five Rolls-Royces, a Ferrari, and nearly $652,000 on luxury watches and clothing. He also spent around $638,000 on two mattresses and an additional $295,000 on high-end bedding. Furthermore, he used part of the funds to settle approximately $1.8 million in credit card debts. Notably, Rinsch never completed the promised show, and his sentencing is scheduled for April.
Netflix has opted not to comment on the case.
**FAQ**
*What were the charges against Carl Erik Rinsch?*
Carl Erik Rinsch was charged with wire fraud, money laundering, and other offenses after being convicted of defrauding Netflix out of $11 million intended for a non-existent show.
