Director Carl Rinsch Convicted of Fraud for Misappropriating Netflix Funds

According to Foresight News, Carl Rinsch, director of '47 Ronin,' has been convicted of defrauding Netflix by misappropriating $11 million to purchase cryptocurrency and luxury items. The 48-year-old producer was commissioned by Netflix in 2018 to create the sci-fi series 'Conquest' (originally titled 'White Horse'). Between 2018 and 2020, Netflix provided his production company with $44 million in funding. In 2020, Rinsch requested an additional $11 million to complete the series, but prosecutors accused him of diverting these funds through multiple bank accounts, eventually consolidating them into a personal securities account. Within two months of receiving the money, he lost over half of the $11 million through securities investments. Rinsch then began speculating in cryptocurrency, purchasing luxury goods, and covering personal expenses. He is scheduled to be sentenced on April 17, 2026, and faces up to 90 years in prison: up to 20 years for wire fraud, up to 20 years for money laundering, and up to 10 years for each of the five counts of using criminal proceeds.