The Justice Department announced charges against Carl Erik Rinsch for a scheme to defraud Netflix of $11 million, which he allegedly used for personal trading instead of completing a science-fiction series called 'Conquest.' Rinsch, who was arrested and faces charges of wire fraud and money laundering, diverted funds from a Netflix deal between 2018 and early 2020. The indictment follows a series of disputes between Rinsch and Netflix, culminating in an arbitrator ordering him to pay nearly $9 million to the company after it canceled the project in early 2021 due to his erratic behavior.
Carl Rinsch was charged with an $11 million fraud scheme against Netflix, diverting funds meant for a science-fiction series into personal investments and lavish spending.
Federal prosecutors allege that Carl Rinsch misused funds from Netflix, using them for trading securities instead of producing the promised television series.
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