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US movie director Carl Erik Rinsch sentenced to 30 months in prison for defrauding Netflix

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US movie director Carl Erik Rinsch sentenced to 30 months in prison for defrauding Netflix

Hollywood director Carl Erik Rinsch, has been sentenced to 30 months in prison after being convicted of defrauding streaming giant Netflix out of $11 million. 
 
Rinsch was found guilty in December of wire fraud, money laundering and related charges tied to an unfinished science-fiction series originally titled White Horse, later renamed Conquest.
 
Prosecutors said Netflix initially paid Rinsch about $44 million for “White Horse” in 2018 and 2019, then provided another $11 million in 2020 after he said he needed more money to wrap up production.
 
But instead of putting that money toward the show, Rinsch steered the cash to a personal account and made a series of failed investments, losing around half the $11 million in a couple of months, according to prosecutors and witnesses’ testimony.
 
They said he put the remaining funds into the cryptocurrency market, netting some profit, which Rinsch deposited into his own bank account.
 
Then came the lavish purchases, prosecutors said, with Rinsch buying five Rolls-Royces, a red Ferrari, $652,000 worth of watches and clothes, and the pricey mattresses, plus another $295,000 on luxury bedding and linens. In addition, he used some of the money to pay off about $1.8 million in credit card bills, prosecutors said.
 
U.S. District Judge Jed S. Rakoff said Rinsch’s mental health difficulties “may explain some of the excesses” but don’t “detract from the court’s conclusion that he was determined to lie to get substantial monies from Netflix, lie to cover it up.”
 
Rinsch is best known for directing the 2013 film 47 Ronin.

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