Hollywood Director Charged with Defrauding Netflix of $11 Million

Carl Erik Rinsch faces up to 90 years in prison for allegedly misusing funds for a sci-fi series on cryptocurrency, luxury items, and personal expenses.

Carl Erik Rinsch, director of the 2013 film '47 Ronin,' was arrested and charged with wire fraud and money laundering for allegedly diverting $11 million intended for Netflix's sci-fi series 'White Horse.'
Rinsch is accused of transferring the funds to personal accounts, losing over half in failed securities trades, and using the remainder to invest in cryptocurrency, which later yielded significant profits.
Prosecutors allege Rinsch spent approximately $10 million on personal luxuries, including luxury cars, furniture, mattresses, watches, and legal fees, instead of completing the series.
Despite receiving $55 million in total funding from Netflix, Rinsch failed to deliver any episodes of the series, which was ultimately canceled in early 2021.
Netflix won an $8.8 million arbitration ruling in 2024, but the funds have not been recovered, and Rinsch now faces up to 90 years in prison if convicted on all charges.