Filmmaker Carl Rinsch arrested for defrauding Netflix out of $11 million
The filmmaker used part of the funds provided by the production company for a series on luxury vehicles and watches, as well as investments in cryptocurrencies.
Carl Rinsch, right
Film director Carl Erik Rinsch was arrested on charges of defrauding Netflix of approximately $11 million in funds provided by the production company for his series "White Horse."
Justice has initiated legal proceedings against Rinsch, director of the 2013 film "47 Ronin," on charges of electronic fraud and money laundering.
Netflix initially provided Rinsch with around $44 million to produce the series. However, after some time, he requested an additional $11 million from the production company, assuring them that the funds would be used solely for the production.
According to court documents, Rinsch diverted the funds for personal expenses, primarily purchasing vehicles, watches, and other luxury items, as well as investing in cryptocurrencies, rather than using them for the series.
Prosecutor Matthew Podolsky outlined how Rinsch devised and carried out a scheme—a "fiction"—to defraud Netflix, diverting the funds for his personal gain. Following a swift hearing, investigating judge Pedro V. Castillo released the director after he posted $100,000 bail.
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