Director Carl Erik Rinsch sentenced for Netflix fraud
Hollywood filmmaker Carl Erik Rinsch has been sentenced to 30 months in prison after pleading guilty to defrauding Netflix of $11 million that was intended for the production of an unfinished television series. The sentence was handed down by a U.S. federal court, which also ordered Rinsch to forfeit the full $11 million.
According to U.S. prosecutors, Netflix had already paid Rinsch $44 million for the sci-fi series White Horse. In 2020, Rinsch requested an additional $11 million to complete the project, which Netflix approved. However, instead of using the funds for production, Rinsch diverted the money for personal gain.
Funds diverted to stocks, crypto, and luxury goods
Prosecutors revealed that Rinsch invested large sums of the $11 million in risky stock options and cryptocurrency, losing more than half of the funds within two months. He then spent the remaining money on luxury purchases, including millions of dollars on furniture, antiques, credit card bills, luxury watches, five Rolls-Royce cars, and a Ferrari. The series was never completed.
Rinsch was convicted on multiple counts, including wire fraud and money laundering. In addition to the prison sentence, the court ordered him to forfeit $11 million as part of the judgment.
Keanu Reeves submitted letter of support
Before sentencing, actor Keanu Reeves, who worked with Rinsch on the film 47 Ronin, submitted a letter to the court asking for leniency. Reeves described Rinsch as a talented artist while acknowledging that justice should still take its course. The court ultimately imposed a 30-month sentence.
The case highlights the risks of fraud in high-budget entertainment projects and the consequences of misusing investor funds. Netflix declined to comment on the sentencing.
