Overview

• Carl Rinsch, known for directing '47 Ronin,' was arrested on charges of wire fraud and money laundering in West Hollywood, California.
• Prosecutors claim Rinsch diverted $11 million from Netflix into personal brokerage accounts, losing half in securities trading but profiting from cryptocurrency investments.
• He allegedly spent $10 million on luxury items, including Rolls-Royces, a Ferrari, furniture, and high-end watches, as well as legal fees and credit card bills.
• Netflix had initially paid $44 million for Rinsch's sci-fi series 'White Horse,' later renamed 'Conquest,' which was never completed.
• If convicted, Rinsch faces up to 20 years in prison, with Netflix already awarded $8.8 million in damages through arbitration in 2024.