9 hours agoHollywood director gets convicted of Netflix fraud, transferred $11 million to his personal account instead of the series.
Periskopi(6 months ago)
(6 months ago)Hollywood director Carl Erik Rinsch, known for the film “47 Ronin”, has been convicted of fraud and money laundering after illegally receiving $11m ($9.3m) from Netflix for a television series that never came true. According to the indictment by federal prosecutors, Rinsch transferred the money he received as additional funds [...]
According to the indictment by federal prosecutors, Rinsch transferred the money he received as additional funds to complete the series in a personal account and invested it in risky investments, including cryptovalus and stock options, losing half of that amount within a few months.
Prosecutors claim the director bought, among other things, five Rolls-Royce, a Ferrari, an hour and luxury clothes, expensive mattresses and sheets, and used part of the money to pay personal debts on credit cards, reports Telegraph, broadcast Periscope.
Director Carl Rinsch has been found guilty on charge of design Netflix out of $111 million in production of the non-completed sci-fi series “White Horse. ”
Rinsch quirkly fired Netflix's money into a partnership account at the start of the COVID-19 pandemic. Hey... Pic.twitter. com/ YbOfk5n MHb
í Variety (@Vatity) December 11, 2025
Rinsch, who is best known for film director “47 Ronin”, was convicted of a charge of cash fraud and a money laundering charge that carry up to 20 years in prison each, as well as of some charges of illegal financial transactions carrying additional penalties.
US prosecutor Jay Clayton stressed that this decision indicates that authorities will pursue the money and demand accountability” when someone misuses investors' funds.
The series, which should be financed with these funds, was never completed, and Rinsch's sentence is expected in April 2026. /Periscope
