Netflix Sues Director for Misusing $55M on Stocks, Crypto and Luxury Goods
Carl Erik Rinsch, funded by Netflix to produce a sci-fi series, gambled and lost part of the funds on stocks, made a fortune on Dogecoin, and splurged on luxury items instead of producing the series.
- Netflix gave director Carl Erik Rinsch $55 million to produce a sci-fi series named 'Conquest'.
- Rinsch used $11 million of the funds to gamble on stocks and cryptocurrency, losing $5.9 million in the process.
- He then invested in Dogecoin, turning $4 million into nearly $27 million.
- Rinsch spent $8.7 million of his earnings on luxury items including five Rolls-Royces and a Ferrari.
- Netflix has yet to receive any episodes of 'Conquest' and has written off the series, initiating legal action against Rinsch.
Benzinga 
Insider 
