Director Arrested for Defrauding Netflix $11 Million

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The world of entertainment in Hollywood has been rocked by a financial scandal involving a renowned director who has already Netflix. Carl Erik Rinsch, famous for his work in 47 Ronin, faces serious charges after allegedly diverting millions of dollars intended for a science fiction series that was never completed.

White Horse and Initial Payments

In 2018, the streaming platform invested approximately $44 million in White Horse, an ambitious science fiction project led by Carl Erik Rinsch, which promised to capture the attention of genre fans. However, in 2020, Rinsch requested an additional 1.4T.11 million, claiming he needed the money to finish production.

Instead of investing in the series, Rinsch transferred the $1.4T$11 million from Netflix into a personal account, from which he made risky financial moves. He lost more than half of the money in failed stock market investments in just two months. He then bet on cryptocurrency, a decision that proved profitable and allowed him to transfer the profits to his personal bank account. What followed was a multi-million-dollar spending spree that included:

• Five Rolls-Royces and a Ferrari, valued at $2.4 million
• Furniture and antiques worth $3.8 million
• Watches and clothing totaling $652,000
• Two mattresses that cost $638,000

Additionally, he is estimated to have spent $1.8 million on credit card bills and $1 million on lawyers to sue Netflix for more funds.

Arrest and Legal Process

Rinsch was arrested on March 4, 2025, in West Hollywood, California, facing charges of wire fraud and money laundering. During his initial hearing in Los Angeles, he did not plead guilty or deny the charges, merely answering the judge's questions. He was released on $14,000 bail and awaits a further hearing in New York. If convicted, he could face up to 90 years in prison.

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