Director Carl Rinsch posed for photographers during a news conference to promote his 3-D film “47 Ronin” on Tokyo, Japan, November 18, 2013. Photo Credit: Shuji Kaziyama
A Hollywood writer-director was arrested in allegations on Tuesday that he cleaned $ 11 million from Netflix for a science-fi show, which was never aired, instead a series of steering and grand procurement of cash towards cryptocurrency investment consisting of a fleet of rolls-rolls and a Ferrari.
Carl Eric Rinsch – Perhaps known for the direction of the film 47 Ronin – Wire fraud and money laundering on the charges of federal prosecutors have been alleged that there was a plan to cheat the streaming veteran.
Prosecutors said Netflix had initially paid about $ 44 million to buy an incomplete show. White horse From Rinsch, but eventually dropped out of another $ 11 million, as he said he needed additional cash to complete the show.
According to the prosecution, instead of using additional funds to wrap the production, Rinins quietly shifted the money to an individual brokerage account, where they created a series of unsuccessful investments, which lost about half of $ 11 million in two months.
The filmmaker then thrown the remaining money into the Cryptocurrency market, which proved to be a profitable step, Rininsch eventually transferred the earnings to an individual bank account, according to an indictment.
From there, Rinsch spent about $ 10 million on personal expenses and luxury items, which included about $ 1.8 million on the credit card bill, according to prosecutors; $ 1 million on lawyers to sue Netflix for more money; $ 3.8 million on furniture and antiquities; $ 2.4 million for five roll-roses and a Ferrari; And $ 652,000 on watches and clothes.
Rinsch, 47, was arrested in West Hollywood, California, and a preliminary court hearing on Tuesday.
He appeared in a federal court in Los Angeles with a turtlene sweater and a hut on his arms and legs. He did not enter a petition and talked about answering only one judge’s questions. Asked if he would read the prosecution against him, he said “not covering to cover” but the judge said he understands the allegations.
American Magistrate Judge Pedro V. Castillo ordered that he was released later on Tuesday when he agreed to post a $ 100,000 bond, to assurance that he would appear in court in New York, where he was filed.
His newly appointed Attorney, Annie Carney refused to comment outside the court. He said during the hearing that he had not yet seen evidence of prosecution against Rinsch. Discussing the terms of his release, he said, “The allegations in this case are purely financial.”
The date of Rinsch’s New York Court was not yet determined.
Netflix refused to comment.
Published – March 19, 2025 10:33 am IST
