Famous director found guilty of defrauding Netflix of $11 million for luxury cars, watches and mattresses
Hollywood director Carl Erik Rinsch, who made the 2013 film 47 Ronin with Keanu Reeves, was convicted of defrauding Netflix of $11 million, money spent on cryptocurrency speculation and a real extravagant shopping spree.
Carl Erik Rinsch PHOTO Shutterstock
Federal prosecutors announced on December 11 that Rinsch had been found guilty for his role “in a fraudulent scheme” related to a payment intended to complete his long-delayed sci-fi series White Horse. The funds were supposed to cover production costs and ensure the completion of the project, writes the Daily Mail.
According to the U.S. Attorney's Office for the Southern District of New York, Rinsch spent the money “on personal expenses and luxury items, including at least $1.7 million on credit card bills; at least $3.3 million on furniture, antiques and mattresses; at least $387,000 on a Swiss watch; and at least $2.4 million on five Rolls-Royces and a red Ferrari”.
He was convicted of wire fraud and money laundering — each offense punishable by up to 20 years in prison — as well as five counts of making financial transactions with proceeds of illegal activities, each carrying a maximum sentence of 10 years.
“Today's conviction demonstrates that when someone steals from investors, we track their money and hold them accountable.”said prosecutor Jay Clayton, referring to “speculative stock options and cryptocurrency trading” of Rinsch.
Rinsch, represented by both private and public prosecutors, is to be sentenced on April 17, 2026. Prosecutors said he acted “knowing and intending to devise a scheme to defraud, to obtain money and goods by false and fraudulent promises”.
During the trial, Rinsch testified in his own defense, claiming that the money from Netflix — in addition to the tens of millions previously received for the unfinished White Horse/Conquest series — was to repay his personal investment in the project.
He said that Keanu Reeves' involvement in 47 Ronin helped him get Netflix's backing, and that he intended to use footage already shot to negotiate a second season. The jury ultimately rejected Rinsch's defense.
In 2021, with only a few teaser clips produced, Netflix canceled the project, recording a loss of over $55 million. In 2024, the platform won a $12 million arbitration against Rinsch after he claimed Netflix owed him $14 million. Documents show he has not returned any money so far.
