’47 Ronin’ Director Convicted of $11 Million Netflix Fraud

A director has been convicted of defrauding Netflix out of $11 million, as confirmed by Business Insider. Carl Rinsch, known for directing the film 47 Ronin, faces significant legal consequences following this fraud case. The court found him guilty after a trial that highlighted a series of misappropriations involving his project.

Carl Rinsch’s Claim to Fame

Rinsch gained recognition for his work on the 2013 film featuring Keanu Reeves. However, his most recent project, initially titled White Horse—later renamed Conquest—has become the center of legal scrutiny.

Project Overview

Filming for Conquest began in 2017. The storyline focuses on a scientist who develops an organic humanoid species that eventually rebels against its creators. Rinsch managed to produce six short episodes funded by both his personal finances and investors.

Netflix Involvement

• Netflix purchased the rights to Conquest for over $61 million.
• Rinsch utilized $44 million from Netflix to partially fund the series.
• In 2020, he requested an additional $11 million to finalize the project, which Netflix approved.

Fraudulent Activities

Instead of investing the $11 million into the series, Rinsch redirected these funds into his personal accounts. His investment strategy quickly backfired, resulting in substantial losses on risky stock trades.

Extravagant Spending

Despite the financial setbacks, Rinsch managed to profit from cryptocurrency trades. Nevertheless, he failed to reinvest these earnings into his work. Instead, he spent the profits on lavish purchases:

• $4 million on high-end furniture and antiques
• $2.4 million on luxury vehicles, including five Rolls-Royces and a Ferrari
• Nearly $1 million on premium linens and mattresses
• $650,000 on designer watches and clothing

Consequences and Legal Proceedings

By 2021, Netflix canceled Conquest, writing off over $55 million in expenses. Rinsch faced numerous charges, including wire fraud and money laundering, along with several counts of engaging in unlawful monetary transactions.

During the trial, Rinsch defended himself by claiming that the money from Netflix was intended as reimbursement for his investments. However, the jury deliberated for under five hours before finding him guilty on all seven counts.

While he faces a potential sentence of up to 90 years, it is anticipated that he will receive a significantly lighter penalty for his crimes.