Hollywood Director Convicted After $11M Netflix Funds Diverted to Crypto Bets
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Director Carl Erik Rinsch was convicted for defrauding Netflix of $11 million, diverting funds to personal expenses including cryptocurrency investments and luxury items. He faces charges of wire fraud and money laundering.
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Hollywood director Carl Erik Rinsch was convicted in Manhattan federal court for defrauding Netflix of $11 million intended for a science fiction television series that never materialized.
A federal jury found the 48-year-old director guilty of multiple counts of wire fraud and money laundering, after prosecutors said he siphoned the funds for personal use, including high-risk stock trades, cryptocurrency investments, luxury cars, watches, and five-star hotel stays in California and Spain.
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