Carl Erik Rinsch charged with defrauding Netflix

Hollywood director Carl Erik Rinsch, known for his work on the film 47 Ronin, has been arrested on charges of wire fraud and money laundering.

Prosecutors allege that Rinsch swindled $11 million from Netflix, which had initially paid him $44 million for an unfinished sci-fi series titled White Horse.

He reportedly requested an additional $11 million to complete the project but instead diverted the funds for personal use.

According to the indictment, Rinsch used the money for failed investments, cryptocurrency trading, and extravagant purchases.

These included luxury items such as five Rolls-Royces, a Ferrari, expensive furniture, antiques, and high-end watches. He also spent significant amounts on legal fees, credit card bills, and lavish accommodations

Rinsch was arrested in West Hollywood and appeared in court, where he was released on a $100,000 bond.

He faces serious charges, including one count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions with unlawfully obtained funds. If convicted, he could face decades in prison