Movie director arrested for scamming Netflix over $10 million for a show that was never made
Movie director Carl Rinsch, known for his movie 47 Ronin, has been arrested for fraud and money laundering.
On charges he swindled $11M from Netflix for a sci-fi show that never aired, instead; cryptocurrency investments, lavish purchases that included a fleet of Rolls-Royces & a Ferrari.
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He’s accused of scamming $11M off Netflix, spending it on luxury cars, antique furniture, and risky investments.
In 2018, Netflix paid $70 million for a show called The Conquest after a bidding war. Later, Carl asked Netflix for more money, stating he could only film one episode with the budget he received.
According to Netflix, they never received a single episode because he blew all trading options and buying crypto.
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Rinsch was arrested in Los Angeles on Tuesday after being accused of spending the budget meant for the show on failed stocks, cryptocurrency, and expensive cars.
Rinsch stands accused of serious crimes, including wire fraud, money laundering, and multiple counts of engaging in transactions linked to illegal activities. If convicted, he will face a maximum sentence of 90 years in prison, should the sentences be served consecutively.
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