Netflix Fraud: Director Gets 30 Months for $11M Scam

Carl Erik Rinsch was sentenced in New York for wire fraud and money laundering after diverting millions from a streaming series to personal trading and luxury spending.

Netflix Fraud: Director Gets 30 Months for $11M Scam

A New York federal judge sentenced filmmaker Carl Erik Rinsch to thirty months behind bars for stealing eleven million dollars from Netflix during production of a sci-fi show, according to Forbes Czech Republic.

The 48-year-old helmer had convinced the streaming giant to pour roughly $55 million into a project once called White Horse. He then asked for another $11 million, insisting the shoot could not wrap without it.

Instead of finishing episodes, Rinsch allegedly moved the cash into his own brokerage account. Within months, he had burned through about half the pile on failed market bets.

What remained went toward crypto coins and high-end splurges. Among the acquisitions were a Rolls-Royce Cullinan and designer mattresses costing six figures.

A jury found him guilty on counts of wire fraud and laundering dirty money. The charges carried a theoretical ceiling of ninety years, yet Judge Jed S. Rakoff settled on a far shorter stretch.

Beyond prison time, the director faces three years of post-release supervision, asset forfeiture matching the full $11 million haul, and a $700 fine.

Before the gavel fell, Rinsch told the court he regretted his conduct, said he was sorry, and accepted blame. Lead prosecutor Jay Clayton afterward declared the outcome a warning that financial scams will face consequences.

Netflix brass took the witness stand during the seven-day trial. They confirmed the platform had approved only one season, which the defendant never handed over.

Rinsch chose an uncommon tactic for an accused felon: he testified in his own defense. He portrayed the episode as a mix-up, arguing he viewed the money as bridge financing to keep the show afloat amid pandemic disruptions.

The proceedings also exposed bizarre conduct that emerged after Rinsch inked his Netflix deal. The New York Times reported that friends and coworkers found him increasingly volatile.

The director, whose best-known credit is the 2013 action film 47 Ronin, allegedly thought he could foresee lightning bolts and volcanic blasts. He also professed to understand a hidden mechanism by which COVID-19 spread.

Source: Google News CZ — Crime (cs)