Hollywood director gets two and a half years in prison for defrauding Netflix
Summary
Hollywood director Carl Erik Rinsch was sentenced to two and a half years in prison for defrauding Netflix of $11 million. He used money meant for a sci-fi show on personal luxury items and risky investments, and also faces fines and supervised release.Key Facts
- Carl Erik Rinsch, a 48-year-old director, was convicted of fraud and money laundering.
- Netflix gave him about $55 million to produce a sci-fi series called White Horse.
- Rinsch misused $11 million of that money for cars, cryptocurrency, and expensive goods.
- He lost half of that $11 million through investments within months.
- Rinsch was sentenced to 2.5 years in prison, 3 years of supervised release, $11 million in forfeitures, and a $700 fine.
- Netflix executives testified that Rinsch failed to deliver the agreed single season of the series.
- Rinsch claimed he thought the money was meant to keep the show going during the pandemic.
- Friends said Rinsch showed erratic behavior, including unusual beliefs about predicting natural disasters.
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