Director Carl Rinsch Convicted for Scamming Netflix of $11M for Unfinished Show
A notable crime in Hollywood has culminated in the conviction of director Carl Rinsch, who swindled Netflix out of $11 million for an unfinished production. The ruling was delivered on Thursday, highlighting the misuse of funds intended for a sci-fi series.
Carl Rinsch’s Criminal Activities
Carl Erik Rinsch, recognized for directing the film “47 Ronin,” faced serious charges. These included wire fraud and money laundering, according to federal prosecutors in New York. Rinsch was initially contracted by Netflix for $44 million for a show titled “White Horse.” When he claimed further financial support was needed, Netflix provided an additional $11 million.
Misappropriation of Funds
- Rinsch diverted the $11 million into his personal account.
- About half of this amount was lost in failed investments within months.
- The remaining funds were invested in cryptocurrencies, providing some returns.
Tragically, instead of completing the series, Rinsch chose to indulge in extravagant expenses. His purchases included:
- Five Rolls-Royces and one Ferrari.
- Watches and clothing worth $652,000.
- Two mattresses costing approximately $638,000.
- Luxury bedding and linens worth $295,000.
- Payments towards $1.8 million in credit card debt.
Reactions and Sentencing
Rinsch’s attorney, Benjamin Zeman, expressed concerns over the verdict. He argues it could set a troubling precedent for artists involved in disputes with major companies like Netflix. Meanwhile, U.S. Attorney Jay Clayton remarked on the case, emphasizing the importance of accountability for those who defraud investors.
Despite the legal repercussions, Rinsch failed to complete the show, and his sentencing is scheduled for April. As this case unfolds, it serves as a stark reminder of the consequences tied to financial misconduct in the entertainment industry.
