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Ladybbird · 21-03-25, 09:53

Netflix Director Carl Rinsch Arrested For $11 MIL Fraud on Netflix

Rinsch Has Been Arrested for Allegedly Swindling Netflix

AP 21 MAR 2025

Hollywood director Carl Erik Rinsch has been arrested for allegedly stealing $11 million from Netflix.

The money was meant to complete a science-fiction series called White Horse, but instead, Rinsch reportedly spent it on luxury cars, expensive furniture, and cryptocurrency investments.

The White Horse Deal

In 2018, Netflix signed a deal with Rinsch to produce White Horse, a sci-fi TV series. The streaming giant paid $44 million to develop the show, expecting a high-quality production. The filming was supposed to take place in different countries, including Kenya, Mexico, Romania, and Hungary. However, things didnt go as planned.

Asking for More Money

After receiving the first $44 million, Rinsch told Netflix that the budget wasnt enough. He claimed that only one episode had been finished and requested more funding. In March 2020, Netflix agreed to give him an extra $11 million, hoping this would help complete the project.

Where Did The Money Go?

Instead of using the money for filming, Rinsch allegedly moved the funds to his personal accounts. He then spent it in three major ways:

Stock and Crypto Investments Rinsch put millions into high-risk stock trades but lost money quickly. He later invested in Dogecoin, a popular cryptocurrency, and managed to turn $4 million into $27 million.

Luxury Shopping He spent millions on luxury items, including:
Five Rolls-Royces and a Ferrari, costing about $2.4 million

Expensive furniture and antiques, including two mattresses worth
$638,000

Designer clothes and watches worth $652,000

Legal Expenses Rinsch used $1 million to cover legal fees for his divorce and a lawsuit against Netflix.

Netflix Cancels White Horse

Despite the millions Netflix provided, White Horse was never completed. By 2021, Netflix decided to cancel the project. In an arbitration case, Rinsch was ordered to repay Netflix $8.8 million, but he did not return the money.

https://www.youtube.com/watch?v=lvxc86ea1WQ

21-03-25, 09:53	#1
Ladybbird Join Date: Feb 2011 Posts: 50,580 Thanks: 28,767 Thanked 14,428 Times in 10,234 Posts Awards Showcase Total Awards: 8	Netflix Director Arrested For Swindling Netflix in $11 MIL Fraud Netflix Director Carl Rinsch Arrested For $11 MIL Fraud on Netflix Rinsch Has Been Arrested for Allegedly Swindling Netflix AP 21 MAR 2025 Hollywood director Carl Erik Rinsch has been arrested for allegedly stealing $11 million from Netflix. The money was meant to complete a science-fiction series called White Horse, but instead, Rinsch reportedly spent it on luxury cars, expensive furniture, and cryptocurrency investments. The White Horse Deal In 2018, Netflix signed a deal with Rinsch to produce White Horse, a sci-fi TV series. The streaming giant paid $44 million to develop the show, expecting a high-quality production. The filming was supposed to take place in different countries, including Kenya, Mexico, Romania, and Hungary. However, things didnt go as planned. Asking for More Money After receiving the first $44 million, Rinsch told Netflix that the budget wasnt enough. He claimed that only one episode had been finished and requested more funding. In March 2020, Netflix agreed to give him an extra $11 million, hoping this would help complete the project. Where Did The Money Go? Instead of using the money for filming, Rinsch allegedly moved the funds to his personal accounts. He then spent it in three major ways: Stock and Crypto Investments Rinsch put millions into high-risk stock trades but lost money quickly. He later invested in Dogecoin, a popular cryptocurrency, and managed to turn $4 million into $27 million. *Luxury Shopping He spent millions on luxury items, including:* *Five Rolls-Royces and a Ferrari, costing about $2.4 million* *Expensive furniture and antiques, including two mattresses worth* *$638,000* *Designer clothes and watches worth $652,000* *Legal Expenses Rinsch used $1 million to cover legal fees for his divorce and a lawsuit against Netflix.* Netflix Cancels White Horse Despite the millions Netflix provided, White Horse was never completed. By 2021, Netflix decided to cancel the project. In an arbitration case, Rinsch was ordered to repay Netflix $8.8 million, but he did not return the money. *https://www.youtube.com/watch?v=lvxc86ea1WQ*

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