Filmmaker Carl Erik Rinsch has been arrested on charges of swindling $11 million from Netflix for a sci-fi show that never aired. Instead of using the money to complete the show, Rinsch allegedly transferred it to a personal brokerage account, where he made unsuccessful investments in cryptocurrency that led to losses. He then spent the remaining funds on personal expenses and luxury items, including Rolls-Royces and a Ferrari.
Rinsch appeared in a federal courtroom in Los Angeles wearing shackles and turtleneck sweater. He did not enter a plea but agreed to post a $100,000 bond for his release. His attorney indicated that the allegations against him were solely financial in nature. Rinsch’s court date in New York, where the indictment was filed, had not yet been scheduled.
Netflix declined to comment on the situation. Rinsch is best known for directing the film “47 Ronin” and has now been charged with wire fraud and money laundering. He is accused of deceiving Netflix into providing additional funds for the show “White Horse” and diverting the money for personal use. The details of the case are still unfolding as it progresses through the legal system.
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