Hollywood director arrested for defrauding Netflix of $55M over unfinished sci-fi TV series

A Hollywood writer-director was arrested Tuesday on charges of defrauding Netflix of $11 million for a sci-fi series that never aired.

Authorities allege that Carl Erik Rinsch, best known for directing 47 Ronin, misused the funds on cryptocurrency investments and lavish personal expenses, including a fleet of Rolls-Royces and a Ferrari.

Prosecutors said Netflix initially paid $44 million for Rinsch’s unfinished show White Horse. When he requested an additional $11 million to complete the series, the streaming giant approved the funds. However, instead of finishing the project, Rinsch allegedly transferred the money to his personal brokerage account, where he lost nearly half in failed investments within two months.

According to the indictment, Rinsch then shifted the remaining funds into cryptocurrency, securing a major profit before withdrawing the earnings into his personal bank account. Federal prosecutors claim he spent around $10 million on personal luxuries, including $1.8 million in credit card payments, $1 million in legal fees to sue Netflix for more money, and $3.7 million on high-end furniture and antiques.

He also allegedly purchased five Rolls-Royces, one Ferrari, and spent $652,000 on watches and designer clothing.

Netflix declined to comment on the case, and it remains unclear if Rinsch has legal representation. The 47-year-old filmmaker was arrested in West Hollywood and is scheduled to appear in federal court in California. His indictment was filed in New York.

The case has sparked discussions about financial oversight in Hollywood and how major streaming platforms manage multi-million-dollar deals. Authorities continue to investigate whether other financial mismanagement occurred within the production of White Horse.