Director Carl Erik Rinsch has been convicted by a New York jury of defrauding Netflix out of $11 million intended for his unfinished sci-fi series, “White Horse.” Rinsch, known for “47 Ronin,” was found guilty of wire fraud, money laundering, and related charges. Netflix initially invested about $44 million in the series in 2018. However, when Rinsch requested an additional $11 million to complete the project, he misappropriated these funds for personal gain rather than using them for the series.
Instead of directing the money towards production, Rinsch diverted the funds into his personal accounts, resulting in significant financial losses through failed investments, specifically in the cryptocurrency market. He also engaged in extravagant personal spending, including purchasing five Rolls-Royces, a Ferrari, and spending over $652,000 on luxurious watches and clothing. Among his most extravagant purchases were two mattresses for $638,000 and luxury bedding costing an additional $295,000. Additionally, he used some of the misappropriated funds to settle approximately $1.8 million in credit card debt.
Despite receiving substantial funding, Rinsch never completed a single episode of “White Horse,” and Netflix ultimately canceled the show’s development in early 2021 following reports of his erratic behavior. His sentencing is set for April 2026, and he faces a maximum of 90 years in prison, with significant penalties associated with the charges. Rinsch’s attorney criticized the verdict, claiming it might set a concerning precedent for artists in contractual disputes with large media firms.
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