🔗 Share this article Hollywood Filmmaker Declared Guilty of Defrauding Streaming Giant Netflix For Millions over Phantom Show A well-known film director was convicted this week for orchestrating a scheme that defrauded the entertainment platform Netflix out of a staggering sum earmarked for a show that was never produced, authorities stated. Details of the Case Carl Rinsch, most famous for helming the movie *47 Ronin* starring Keanu Reeves, was convicted on multiple charges including wire fraud and money laundering, according to legal documents and government attorneys in New York. "This verdict shows that if an individual takes money from backers, we will follow the money and ensure they face consequences," said the prosecutor. The Alleged Scheme Prosecutors alleged that Netflix had originally disbursed Rinsch around a sum for an incomplete sci-fi project titled *White Horse*. Later, the company sent an additional payment after he asserted he needed extra capital to complete the project. However, instead of allocating the funds for the show, Rinsch redirected the capital to a personal account. From there, he made a string of unsuccessful stock market bets, squandering roughly 50% of the $11 million within a few months, prosecutors said. Lavish Purchases with Company Money Following the market losses, Rinsch reportedly invested the leftover money into the digital currency market, making some gains. But, he then transferred those proceeds into his personal account. What followed next involved major high-end expenditures. Authorities outlined acquisitions that included: 5 luxury car automobiles and one Ferrari. More than six hundred and fifty-two thousand dollars on timepieces and clothing. Two beds for approximately $638,000. An additional $295,000 on high-end linens and home furnishings. In addition, he allegedly used a portion of the funds to settle about $1.8 million in credit card balances. Court Response and Next Steps In a statement, Rinsch's legal counsel expressed dismay with the outcome, suggesting it "could set a dangerous precedent for artists who become involved in business and creative disagreements with their benefactors." Rinsch, forty-eight, did not finish the show. His sentencing date is scheduled for this spring. The company involved chose not to comment on the matter.