Hollywood director Carl Erik Rinsch, best known for the Keanu Reeves film 47 Ronin, has been convicted of wire fraud, money laundering and related charges after federal prosecutors said he diverted millions from a Netflix production budget to fund a personal luxury spending spree.
According to court records, Netflix paid Rinsch roughly $44 million to develop an ambitious sci-fi series titled White Horse. When he requested more funding to complete the project, the company wired an additional $11 million. Prosecutors said none of that extra money went toward production.
Money Diverted to Failed Investments and Luxury Purchases
Instead, Rinsch transferred the $11 million into a personal account, where he quickly lost about half of it through speculative investments, prosecutors said. He then moved the remaining funds into cryptocurrency trades, generating a profit before depositing the proceeds into his own bank account.
What followed, according to the indictment, was a lavish shopping spree:
- Five Rolls-Royces and one Ferrari
- $652,000 in designer watches and clothing
- Two mattresses costing about $638,000
- $295,000 on luxury bedding
- $1.8 million used to pay off credit card balances
Rinsch never delivered the promised series, and the project remains unfinished.
Defense Pushes Back, Sentencing Set for April
Rinsch’s attorney, Benjamin Zeman, argued the conviction “sets a dangerous precedent for artists” engaged in contractual disputes with major studios. He maintained the case framed a creative disagreement as a federal crime.
A sentencing hearing is scheduled for April. Netflix declined to comment on the verdict.