Hollywood Director's Lavish Spending Scandal Unveiled

Carl Erik Rinsch, a Hollywood director, has been convicted of scamming Netflix out of USD 11 million for a non-existent show, using funds for lavish purchases like luxury cars and bedding. Despite initial payments for a sci-fi project, the funds were misappropriated, resulting in a criminal verdict.

A Hollywood director was found guilty on Thursday for defrauding Netflix out of USD 11 million intended for a project that never materialized. Carl Erik Rinsch, director of '47 Ronin,' was convicted of wire fraud and money laundering among other charges. Rinsch's attorney argues the ruling could set a risky precedent for artists in disputes with large media companies.

Prosecutors revealed that Netflix initially allocated USD 44 million for a sci-fi series titled 'White Horse.' After requesting an additional USD 11 million to allegedly complete the project, Rinsch diverted the funds to personal use, including failed investments and cryptocurrency ventures, before illicitly transferring profits to his account.

Rinsch indulged in extravagant spending with the diverted funds, purchasing luxury cars like Rolls-Royces and a Ferrari, as well as splurging on watches, clothing, and high-end mattresses and linens. Court records show he also cleared USD 1.8 million in credit card debt. Netflix has not commented, and Rinsch's sentencing is scheduled for April.