The director’s sentence for embezzlement of millions, the money meant for making the series was wasted

Hollywood director Carl Rinsch has been convicted of embezzlement, money laundering and other crimes. He embezzled 11 million dollars (9.4 million euros) from Netflix, says the news channel CNN.

Rinsch had received the money Conquest– for the production of a sci-fi series, but the series was never completed. Instead, the director used the money for his personal expenses.

According to CNN, Rinsch used the money to buy, for example, five Rolls-Royces and one Ferrari. In addition to luxury cars, he spent $652,000 on wristwatches and clothes, and about $638,000 on two mattresses. $295,000 was spent on bedding. He also paid about $1.8 million in credit card bills.

According to CNN, Rinsch’s attorney Benjamin Zeman said he thought the verdict was wrong. According to him, it can set a dangerous precedent for artists who find themselves in contract disputes with their financiers.

Rinsch will be sentenced in April. The maximum penalty for embezzlement and money laundering is 20 years in prison each, he says Deadline.

Netflix declined to comment to CNN.

In 2018 Rinsch signed a new $55 million contract with Netflix Conquest– about producing a sci-fi series. There wasn’t even a finished script for the series, but Rinsch had filmed six short episodes.

After the contract was born, Rinsch began filming the remaining episodes around the world, but his behavior began to become erratic. of the New York Times according to which he was suspected of using too much amphetamine-based adhd medication for his diagnosed attention deficit hyperactivity disorder.

In March 2020, Rinsch asked for and received another $11 million from Netflix. It is precisely this amount that is at issue in the lawsuit filed against him. According to prosecutors, Rinsch diverted the money to his personal account and lost about half in unsuccessful stock market investments in a couple of months.

Rinsch invested the rest of the money in the Dogecoin cryptocurrency and earned nearly $27 million. He spent this money on luxury products and a high life, totaling nearly nine million dollars. He later told Netflix that he had made purchases for the sets of the series.

Netflix canceled the contract in March 2021 and demanded damages from Rinsch for breach of contract. The matter was discussed in 2023–2024 in the arbitration court.

The arbitration court ordered Rinsch to pay Netflix about nine million dollars in damages and nearly three million dollars in legal costs.

Rinsch is known for his 2013 release 47 Ronin – from the film, in which he played the main role Keanu Reeves. The film was a financial flop.