The money was meant to wrap up Carl Rinsch’s sci-fi show titled ‘Conquest,’ which Netflix acquired from him for $44 million
Police have arrested and indicted 47 Ronin director Carl Rinsch for allegedly misusing $11 million in Netflix funds to buy luxury cars and watches, to pay his divorce lawyers, and to invest in crypto. If found guilty, he faces several years in prison.
According to court documents, the money was meant to wrap up Rinsch’s sci-fi show titled Conquest, which Netflix acquired for $44 million from him. He had demanded an extra $11 million in 2020 to finish the series. It was also called White Horse and never streamed.
Prosecutors say Rinsch quickly burned half the money on failed stock trades, then made a fortune in crypto. His lavish purchases include more than $1 million in mattresses and bedding, $5.4 million in antiques and furniture, five Rolls-Royces and a Ferrari.
He also spent $1 million suing Netflix for even more money. The streaming giant ultimately scrapped the show.
Now, Rinsch faces federal wire fraud and money laundering charges while authorities seek to seize his assets.