"Hollywood director Carl Erik Rinsch was convicted of scamming $11 million from Netflix to spend on luxury items, including five Rolls-Royces and a Ferrari, as reported earlier by Deadline. A New York jury found Rinsch guilty of several charges on Thursday, including fraud and money laundering. Rinsch, who's known for directing 47 Ronin, was charged with fraud in March after prosecutors say he stole the $11 million he received from Netflix to complete an upcoming sci-fi series called White Horse (later renamed Conquest)."
"Instead of putting the money toward finishing the series, prosecutors say he used the funds to make a series of investments, leading him to lose "more than half" of those funds in less than two months. He then spent the rest of his money on investing in cryptocurrency and lavish items, including "at least $3.3 million furniture, antiques, and mattresses; at least $387,000 on a Swiss watch; and at least $2.4 million on five Rolls Royces and a red Ferrari.""
Carl Erik Rinsch was convicted by a New York jury on charges including fraud and money laundering for misappropriating $11 million from Netflix. The funds were intended to complete a sci-fi series originally titled White Horse (later renamed Conquest) about a creator of a humanlike species called the Organic Intelligent. Instead of completing production, the funds were invested and reportedly lost more than half within two months. Remaining funds were spent on cryptocurrency and lavish purchases, including furniture, antiques, watches, and multiple luxury cars. Sentencing is scheduled for April 17, 2026.
Read at The Verge
Unable to calculate read time
Collection
[
|
...
]