Director Carl Erik Rinsch has been indicted for allegedly defrauding a streaming service, identified as Netflix, out of $11 million designated for the production of a sci-fi series initially called White Horse. After securing a high-profile deal with Netflix, Rinsch mismanaged funds meant for the series, ultimately using them for personal gains, including luxury items and speculative investments. The US Attorney's Office outlined that Rinsch's failure to complete the show led to accusations of misconduct, including using funds irresponsibly and seeking litigation against Netflix for further compensation.
Rinsch allegedly lost most of the $11 million to trading, but he made it back and earned more from investing the rest on cryptocurrency.
The US Attorney's Office detailed that Rinsch requested more funding from Netflix, who provided $11 million to complete a series that was never finished.
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