Overview
- After less than five hours of deliberation, a Manhattan federal jury found Rinsch guilty on seven counts, including wire fraud, money laundering, and five illegal monetary-transaction charges.
- Prosecutors said the $11 million transferred in March 2020 was routed to personal accounts for options trades and cryptocurrency, then spent on luxury items such as multiple Rolls-Royces, a Ferrari, and high-end Hästens mattresses.
- Netflix had previously paid roughly $44 million for the sci‑fi series White Horse, canceled the project in 2021, and wrote off about $55 million.
- Rinsch testified that he believed the payment was reimbursement and framed the case as a contract dispute rather than a criminal scheme.
- Separate from the criminal case, Netflix won a nearly $12 million arbitration award in 2024 that has not been satisfied.