Director Carl Rinsch Indicted in Alleged $11 Million Netflix Fraud
Director Carl Erik Rinsch has found himself in hot water after being indicted on charges of fraud and money laundering. The allegations claim that he took $11 million from Netflix under the pretense of finishing a science fiction TV series titled “White Horse,” which was never completed. Instead, Rinsch allegedly used the funds for extravagant purchases such as luxury cars, antique furniture, and mattresses.
The U.S. Attorney’s Office for the Southern District of New York confirmed Rinsch’s arrest in West Hollywood. The case has gained attention after being reported in a New York Times story and detailed in a lengthy arbitration ruling. The ruling ordered Rinsch to repay the $11.8 million he misappropriated, a decision that was upheld by a Los Angeles Superior Court judge.
According to court records, Rinsch pitched the show, also known as “Conquest,” to Netflix executives in 2018. With investment from actor Keanu Reeves, who served as his mentor, Rinsch had already shot several episodes and a trailer. Netflix agreed to invest $44 million in the series, with plans for extensive filming across multiple countries.
However, production quickly went over budget, and Rinsch struggled to deliver on his promises. Despite receiving additional funds from Netflix, the project faced numerous setbacks, including the COVID-19 pandemic. Ultimately, Netflix executives grew concerned about Rinsch’s lack of focus on the show and the lead actor dropping out, leading to the decision to write off the cost of the series.
The indictment alleges that Rinsch misused the $11 million he received from Netflix, making risky investments and indulging in lavish spending. He reportedly lost a significant portion of the funds through speculative investments and cryptocurrency trading. The remaining money was spent on luxury items such as mattresses, bedding, furniture, and multiple high-end cars.
Facing charges of wire fraud, money laundering, and illicit fund usage, Rinsch could potentially face a lengthy prison sentence. The government is also seeking to confiscate his assets as part of the legal proceedings. Despite filing a petition to overturn the arbitrator’s ruling, Rinsch’s arguments were dismissed, and the decision was upheld by the court.
The case serves as a cautionary tale of financial mismanagement and deception in the entertainment industry. It highlights the importance of transparency and accountability in business dealings, especially when dealing with large sums of money from reputable companies like Netflix.
