Director of ’47 Ronin’ Arrested for Allegedly Defrauding Netflix of $11 Million
Acclaimed director Carl Erik Rinsch, known for his work on the 2013 film “47 Ronin,” made headlines recently for all the wrong reasons. He was arrested in West Hollywood on suspicion of defrauding Netflix of a whopping $11 million. This money was originally intended to help complete a TV show that had already seen $44 million in investment. However, instead of using the money for its intended purpose, Rinsch allegedly transferred it into his personal accounts for personal expenses and financial decisions.
According to a federal court indictment filed in the Southern District of New York, Rinsch swiftly moved the $11 million from the Rinsch Co. account, where Netflix had deposited it in March 2020, through various other accounts. Ultimately, around $10.5 million of that money ended up in a personal brokerage account, where it was reportedly lost in risky stock market investments within a short period.
Throughout this time, despite the alleged financial mismanagement, Rinsch continued to assure Netflix that the show, titled “White Horse,” was progressing well. The indictment claims that he then moved the remaining funds into cryptocurrency, ultimately making a profit from speculative crypto investments. However, most of this money was allegedly spent on extravagant purchases like luxury cars, watches, clothing, bedding, and linens, as well as substantial legal fees.
“White Horse” was slated to be a sci-fi series revolving around superintelligent clones exiled in Brazil, where they develop advanced technology and face conflicts with humans and amongst themselves. Sadly, the show never came to fruition, leaving a trail of disappointment in its wake.
Rinsch’s arrest highlights the serious consequences of financial misconduct and the importance of upholding ethical practices in all industries, even the glitzy world of entertainment.
