{"id":342827,"date":"2025-12-13T23:57:48","date_gmt":"2025-12-13T23:57:48","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/hollywood-director-convicted-after-11m-netflix-funds-diverted-to-crypto-bets\/"},"modified":"2025-12-13T23:57:48","modified_gmt":"2025-12-13T23:57:48","slug":"hollywood-director-convicted-after-11m-netflix-funds-diverted-to-crypto-bets","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=342827","title":{"rendered":"Hollywood Director Convicted After $11M Netflix Funds Diverted to Crypto Bets"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2020\/12\/arrest_cover.jpg\" \/><\/p>\n<div>\n<p>\n\t\t\t\t\t\t\t\t\t Rinsch, best known for directing the 2013 film &#8220;47 Ronin,&#8221; now faces sentencing after the federal jury&#8217;s decision.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<div>\n<p>Hollywood director Carl Erik Rinsch was convicted in Manhattan federal court for defrauding Netflix of $11 million intended for a science fiction television series that never materialized.<\/p>\n<p>A federal jury found the 48-year-old director guilty of multiple counts of wire fraud and money laundering, after prosecutors said he siphoned the funds for personal use, including high-risk stock trades, cryptocurrency investments, luxury cars, watches, and five-star hotel stays in California and Spain.<\/p>\n<p>The series, originally titled \u201cWhite Horse\u201d and later renamed \u201cConquest,\u201d had already received roughly $44 million in earlier funding. Rinsch began filming six short-form episodes with support from his mentor, Keanu Reeves, before pitching the project to studios.<\/p>\n<p>Between late 2019 and early 2020, he requested an additional $11 million to finish production. Prosecutors said he transferred the funds into personal accounts, losing about half through risky investments, then used the remaining funds on cryptocurrency and lavish spending.<\/p>\n<p>Court documents <a href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/hollywood-director-and-writer-convicted-11-million-fraud-subscription-streaming\" target=\"_blank\">show<\/a> he bought five Rolls-Royces, a Ferrari, high-end watches and clothing, luxury mattresses and bedding, and repaid $1.8 million in personal credit card debt, all with money Netflix believed was meant for the series. Rinsch argued at trial that the dispute was contractual and that he considered the payments as reimbursement for work already completed.<\/p>\n<p>US Attorney for the Southern District of New York Jay Clayton said the conviction comes after a one-week trial before US District Judge Jed S. Rakoff. He added,<\/p>\n<blockquote>\n<p>\u201cCarl Erik Rinsch took $11 million meant for a TV show and gambled it on speculative stock options and crypto transactions. Today\u2019s conviction shows that when someone steals from investors, we will follow the money and hold them accountable.\u201d<\/p>\n<\/blockquote>\n<p>The charges carry maximum penalties of a total of 90 years in prison, although the actual sentence is expected to be shorter. Rinsch is scheduled to be sentenced on April 17, 2026.<\/p>\n<h3 class=\"heading-4\">You may also like:<\/h3>\n<p>Rinsch was <a href=\"https:\/\/cryptopotato.com\/netflix-director-accused-of-11m-scam-funds-diverted-to-crypto-trades-luxury-splurges\/\">arrested<\/a> in March this year in West Hollywood, California. Earlier reports <a href=\"https:\/\/cryptopotato.com\/crypto-degeneracy-plagues-netflix-how-a-popular-director-gambled-4m-on-dogecoin-doge\/\">suggest<\/a> that he invested in popular meme coin Dogecoin (DOGE) and made $27 million in profits.<\/p>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0; clear: both;\">\n<div><center><span style=\"font-size:11px; color: gray;\">SPECIAL OFFER (Exclusive)<\/span><\/center><br \/>\n<b>SECRET PARTNERSHIP BONUS for CryptoPotato readers: <a href=\"https:\/\/cryptopotato.com\/goto\/bingxpromo\/\" rel=\"nofollow\">Use this link<\/a> to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).<\/b><\/div>\n<\/div>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Rinsch, best known for directing the 2013 film &#8220;47 Ronin,&#8221; now faces sentencing after the federal jury&#8217;s decision. Hollywood director Carl Erik Rinsch was convicted in Manhattan federal court for defrauding Netflix of $11 million intended for a science fiction television series that never materialized. A federal jury found the 48-year-old director guilty of multiple [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":342828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98049,98050,166238],"tags":[57840,15668,40701,10954,166239,6034,48686,11257,11407,9453],"dealstore":[],"offerexpiration":[],"class_list":["post-342827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aa-news","category-crypto-news","category-crypto-scams","tag-11m","tag-bets","tag-convicted","tag-crypto","tag-crypto-scams","tag-director","tag-diverted","tag-funds","tag-hollywood","tag-netflix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hollywood Director Convicted After $11M Netflix Funds Diverted to Crypto Bets - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=342827\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hollywood Director Convicted After $11M Netflix Funds Diverted to Crypto Bets - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Rinsch, best known for directing the 2013 film &#8220;47 Ronin,&#8221; now faces sentencing after the federal jury&#8217;s decision. 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