Carl Erik Rinsch, a Hollywood director, has been charged with defrauding Netflix of $11 million intended for his sci-fi TV show 'White Horse.' After receiving the payment, Rinsch reportedly transferred the funds to personal accounts and engaged in high-risk investments that quickly resulted in losses. Despite mismanaging the funds, he misled Netflix about the status of the show. Facing serious federal charges, he could spend up to 90 years in prison if convicted, highlighting a significant case of alleged fraud in the entertainment industry.
Rinsch received $11 million from Netflix to complete a sci-fi TV show, quickly transferring the funds to personal accounts and making risky investments, leading to a financial disaster.
Prosecutors allege Rinsch mismanaged the money almost immediately, losing over half of the funds through failed securities trades while misleading Netflix about the show’s progress.
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