Director Charged With Netflix Fraud After Splurging on Crypto Instead of Finishing Sci-fi Series (npr.org)
- Reference: 0176787797
- News link: https://yro.slashdot.org/story/25/03/21/2343252/director-charged-with-netflix-fraud-after-splurging-on-crypto-instead-of-finishing-sci-fi-series
- Source link: https://www.npr.org/2025/03/20/nx-s1-5334497/carl-erik-rinsch-netflix-fraud-fbi
Rinsch, 47, was arrested in West Hollywood this week on charges of wire fraud, money laundering and unlawful monetary transactions that could result in decades of imprisonment if convicted. The FBI and Acting U.S. Attorney for the Southern District of New York allege Rinsch diverted funds meant for his series "Conquest" to speculate on cryptocurrency, stay in luxury hotels and purchase high-end items including five Rolls-Royces and a Ferrari.
Netflix had paid Rinsch $44 million between 2018 and 2019 for the science fiction project about an artificial humanlike species. Prosecutors say he then requested an additional $11 million but never completed the production. An arbitrator ruled in Netflix's favor last year, ordering Rinsch to pay the company $11.8 million. Rinsch appeared in federal court with shackles and posted a $100,000 bond.
[1] https://www.npr.org/2025/03/20/nx-s1-5334497/carl-erik-rinsch-netflix-fraud-fbi
[2] https://slashdot.org/story/23/11/22/1523229/the-strange-55-million-saga-of-a-netflix-series-youll-never-see
Eat the rich (Score:1)
Decades in prison for defrauding netflix. Wouldn't want the poors to think they can get away with stealing from their betters.
Re: (Score:2)
The dude had over $2M in credit card debt. He was far from being one of "the poors".
Re: (Score:2)
It was DOGE, back in 2018.
He sold it in March 2021 during peak Elon DOGE mania, and made a cool $36.7 millino profit off the $4 million....
But he legit lost $6 million of Netflix's money in 2018 gambling on a recession hitting that never came.
When Netflix found out about the $36 million profit, supposedly $44 million on the blockchain at one point, that's when they initiaed the legal proceedings.
Re: (Score:2)
When he sold the DOGE in 2021, he went on this *wild* spending spree and supposedly blew $1.1 million in the first week and $20 million in the first 3 months. all sorts of things.
That crypto better be $TRUMP coin... (Score:2)
...because that's the only way he's getting out of this.
Re: (Score:3)
It was DOGE coin and a bit of Ethereum.
https://crypto.news/47-ronin-director-allegedly-scammed-11m-from-netflix-to-buy-doge-other-crypto/
Why so long to charge him? (Score:3)
It's been like 5+ years .. how long does it take them to figure this stuff out?
Yes but Netflix now has an even better script (Score:2)
ChatGPT write me a script for: a writer who struggles with writers block who deals with it by gambling with crypto, buying fast cars, hookers and blow. Mix in hints, references and Easter eggs from The Shining
Let me guess... (Score:2)
He only got caught because of the rolls.
People gonna notice that man.
Re: (Score:1)
Don't worry about the guy. Trump will pardon him for sure. This is the kinda criminal the orangutan loves. Grifting cash