By Gwurld4026 
Netflix Fraud: Hollywood Director Arrested for $11M Scam
Hollywood director Carl Erik Rinsch, known for the 2013 film “47 Ronin,” has been arrested on charges of wire fraud and money laundering. Federal prosecutors allege that Rinsch fraudulently obtained $11 million from Netflix for a sci-fi series titled “White Horse,” later renamed “Conquest,” which was never completed.
In 2018, Netflix initially invested $44 million in the project. Rinsch later requested an additional $11 million, purportedly to finalize the series.
Instead of allocating these funds to production, he allegedly diverted $10.5 million into a brokerage account, incurring significant losses through speculative trading. Subsequently, he invested in cryptocurrency, which yielded profits.
Prosecutors claim Rinsch used the misappropriated funds for personal luxuries, including purchasing five Rolls-Royces, a Ferrari, and high-end furniture.
Rinsch was apprehended in West Hollywood and appeared in a Los Angeles federal court, where he was released on a $100,000 bond. His case will proceed in a New York court. Netflix has not issued a public comment regarding the situation.