Key Takeaways:
- Filmmaker Carl Erik Rinsch has been indicted for allegedly misusing $11 million from Netflix to trade stocks and cryptocurrency instead of producing a sci-fi series.
- Prosecutors claim Rinsch lost over $5.5 million in stock trades but profited from crypto, using the gains to buy luxury goods, including Rolls-Royces and designer clothing.
- He faces multiple fraud and money laundering charges, with potential prison sentences of up to 20 years per major count.
Filmmaker Carl Erik Rinsch has been indicted by U.S. federal authorities for allegedly misusing $11 million in Netflix production funds to engage in stock and cryptocurrency trading instead of completing a sci-fi television series.
The indictment, unsealed on March 18 in a Manhattan federal court, charges Rinsch with fraud and money laundering, offenses that could lead to a 20-year prison sentence.
⚡JUST IN: Director Carl Erik Rinsch, known for "47 Ronin," was arrested for allegedly swindling $11 million from Netflix and investing it in cryptocurrency.
— ChainDesk (@ChainDesk_) March 19, 2025
Prosecutors claim that in March 2020, Rinsch received $11 million from Netflix—though the company is not explicitly named—to finance Conquest (formerly White Horse).
Instead, he allegedly diverted $10.5 million into a brokerage account, making high-risk investments, including call options on a biopharmaceutical company, which led to $5.5 million in losses.
Despite reporting smooth production to Netflix, Rinsch purportedly shifted funds into cryptocurrency, generating significant profits in early 2021.
He then spent millions on luxury items, including Rolls-Royces, a Ferrari, high-end watches, designer clothing, and $3.8 million worth of antiques and furniture.
Authorities also accuse Rinsch of spending $1.8 million on credit card payments and $1 million on legal fees, including a lawsuit against Netflix.
He faces multiple financial crime charges, with the case assigned to Judge Jed Rakoff in New York.
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