Hollywood writer-director Carl Erik Rinsch, best known for directing 47 Ronin, has been arrested on charges of wire fraud and money laundering after allegedly swindling $11 million from Netflix for a sci-fi show that never aired.
The Alleged Netflix Fraud Scheme
According to federal prosecutors, Netflix initially paid $44 million to acquire Rinsch’s unfinished sci-fi series, White Horse. However, Rinsch later requested an additional $11 million, claiming he needed more funds to complete production.
Instead of using the money for the show, prosecutors allege Rinsch:
Transferred the funds to a personal brokerage account
Lost nearly half of it in failed investments within two months
Funneled the remaining money into cryptocurrency, which later yielded substantial profits
Rather than returning the profits, Rinsch allegedly spent approximately $10 million on luxury purchases, including:
$1.8 million on credit card bills
$1 million in legal fees to sue Netflix for more money
$3.8 million on furniture and antiques
$2.4 million on five Rolls-Royces and a Ferrari
$652,000 on watches and designer clothing
Arrest & Court Proceedings
On Tuesday, Rinsch, 47, was arrested in West Hollywood, California and appeared in a Los Angeles federal courtroom wearing a turtleneck sweater and jeans, shackled at the arms and legs.
During his hearing, he acknowledged the charges but stated he had not read the indictment “cover to cover”.
U.S. Magistrate Judge Pedro V. Castillo granted his release on a $100,000 bond, with an agreement that he will appear in a New York court, where the indictment was filed.
His attorney, Annie Carney, declined to comment outside the courtroom, stating that she had yet to review the prosecution’s evidence.
A court date in New York has not yet been scheduled.
