LOS ANGELES – Hollywood filmmaker Carl Rinsch has been charged with wire fraud and money laundering after he allegedly used $11 million from Netflix for personal expenses instead of finishing a sci-fi series.
Rinsch, best known for the film "47 Ronin," was arrested after the case was made public in a New York federal court this week. Prosecutors say he used the money to buy a Ferrari, five Rolls-Royces, luxury clothing, and cryptocurrency instead of producing "White Horse," which was later renamed "Conquest."
The project, funded with $44 million in 2018-2019, was supposed to tell the story of a scientist who created powerful clones that were thrown into a walled city in Brazil.
Despite the previous funding, Rinsch asked for an additional $11 million, which he immediately transferred to various accounts for personal expenses, including dodgy stock investments and lawyer fees to sue Netflix and handle his divorce.
According to the FBI, they will remain tough on business fraudsters. Netflix declined to comment on the case.
