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"47 Ronin" director indicted for defrauding Netflix US$11M

Carl Rinsch arrested after allegedly misappropriating funds intended for canceled Netflix sci-fi series
Carl Rinsch arrested after allegedly misappropriating funds intended for canceled Netflix sci-fi series
20 Mar - Filmmaker Carl Rinsch has been indicted by federal prosecutors for allegedly taking USD 11 million from Netflix for a project that did not come to fruition.

Speaking to the media about the 12-page indictment, FBI Assistant Director Leslie Backshies stated, "Carl Rinsch allegedly stole more than USD 11 million from a prominent streaming platform to finance lavish purchases and personal investments instead of completing a promised television series."

"The FBI will continue to reel in any individual who seeks to defraud businesses," they added.

The 47-year-old "47 Ronin" director, who was arrested on 18 March, is now charged with one count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions in property derived from specified unlawful activity.
Rinsch is most known for helming Keanu Reeves'
Rinsch is most known for helming Keanu Reeves' "47 Ronin"
It was reported that Rinsch had a deal with Netflix to develop a sci-fi series called "White Horse" (later renamed "Conquest") in 2018. After having used the first USD 44 million that Netflix funded, he asked for another USD 11 million in 2020, citing pre-and post-production needs.

The streamer had since cancelled the project and wrote it off after the director failed to present the end result of his work. However allegedly, Rinsch had transferred most of the USD 11 million to his brokerage account and used half of it on cryptocurrency and other purchases he claimed was for the second season of the show that Netflix had never green-lighted.


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