Director Arrested, Spends 11 Million Meant for New Netflix Series
Carl Erik Rinsch, the director best known for 47 Ronin, is facing serious legal trouble after allegedly defrauding Netflix out of millions meant for a science fiction series that never came to life. Federal prosecutors have charged Rinsch with wire fraud and money laundering, claiming he spent nearly all of the $11 million Netflix gave him on extravagant personal expenses instead of completing the project.
According to court documents, Rinsch pitched a dystopian sci-fi series titled White Horse in 2018, which was later renamed Conquest. Netflix agreed to fund the ambitious project under the condition that he deliver episodes for release. Despite receiving significant advances, Rinsch failed to turn in any usable footage, prompting Netflix to pull the plug on the series by early 2021. The company has since made no public comment about the situation.
Prosecutors allege that instead of using the funds for production, Rinsch embarked on a lavish spending spree. He reportedly purchased five Rolls-Royces, a Ferrari, luxury watches from Rolex and Louis Vuitton, high-end furniture, and even a $387,000 deposit on designer living room items. He is also accused of using a portion of the money to cover personal credit card debt and legal expenses. These revelations were first detailed in a report by AP News.
Even more bizarre, Rinsch allegedly attempted to invest the remaining Netflix funds in high-risk ventures. He lost millions in stock trading but struck temporary success with cryptocurrency, particularly Dogecoin. According to prosecutors, he claimed he was entitled to keep the profits, arguing that the crypto investment had somehow fulfilled his obligations to Netflix. This argument, however, has not held up under legal scrutiny.
A detailed report from Business Insider describes how Rinsch framed himself as an auteur with a groundbreaking vision for television. He promised to deliver a new kind of immersive experience blending artificial intelligence and storytelling. Netflix, drawn in by his cinematic flair and previous studio work, funded the development. But according to sources close to the case, the footage delivered was unusable, erratic, and lacked coherent narrative or structure. One executive described the material as “a chaotic mess.”
In a separate feature, People reported that Rinsch was arrested in West Hollywood and appeared before a federal judge in Los Angeles. He was released on a $100,000 bond and will face further proceedings in a New York court. If convicted, he could face decades in prison.
Court documents also suggest that Rinsch tried to renegotiate his deal with Netflix after the company expressed concern over the footage and of production delays. When the streamer refused to fund the next phase of the project, Rinsch allegedly responded with aggressive demands for more money and accused Netflix of breaching their contract. By then, prosecutors claim, most of the $11 million had already vanished.
The case sheds light on the risks streaming platforms take when investing in high-concept, director-driven content without strict oversight. As Netflix continues to battle rising production costs and increased competition, this incident may prompt tighter controls on how creatives use development funds.
Rinsch has not made a public statement regarding the charges. His attorney has yet to comment on the case, and it remains unclear whether he will attempt to mount a defense based on creative intent or financial mismanagement. The fallout from this case is likely to resonate through Hollywood, where streamer spending has often outpaced traditional accountability.
As the legal proceedings continue, the story of White Horse serves as a cautionary tale—one that blends Hollywood ambition with financial recklessness.
