A Hollywood director screenwriter was arrested on Tuesday, accused of defrauding $ 11 million in Netflix for a science fiction series that has never been broadcast, and of having used money for cryptocurrency investments and a series of sumptuous purchases including a fleet of Rolls-Royce and a Ferrari.
Carl Rinsch, known for having made the film “47 Ronin”, was accused of fraud and money laundering for what federal prosecutors allege as a ploy aiming to defraud the streaming giant.
Netflix had at first paid around $ 44 million to buy a series entitled “White Horse” to the director, before distributing him an additional $ 11 million after the latter said he needed this additional money to complete the series.
Rather than using this additional money to finish production, Carl Rinsch discreetly transferred the money to a personal brokerage account, where he made a series of investments that made him lose about half of the $ 11 million in two months, according to the prosecutors.
Five Rolls-Royce, a Ferrari and luxury items
The screenwriter and director then invested the rest of the money in the cryptocurrency market, a profitable operation this time, which prompted him to transfer the gains to a personal bank account, according to an indictment.
The director of “47 Ronin” then spent ten million dollars, including 1.8 million in credit card invoices, 3.8 million in furniture and antiques, 2.4 million for five Rolls-Royce and a Ferrari, $ 652,000 in watches and clothing, and … a million dollars in lawyers to continue Netflix.
The 47 -year -old filmmaker was arrested in West Hollywood, California, and appeared for the first time in court on Tuesday, where he did not plead guilty. US investigating judge Pedro V. Castillo ordered his release later Tuesday after Carl Rinsch agreed to pay a deposit of $ 100,000 to guarantee his appearance before the New York court, where his accusation act was filed.
His new lawyer, Annie Carney, refused to comment outside the court. She said during the hearing that she had not yet seen the evidence of the accusation against her client. The date of the Carl Rinsch trial in New York has not yet been set. For his part, Netflix refused to comment on this case.