5 Rolls-Royces and $638k in mattresses: How prosecutors say director Carl Rinsch ripped off Netflix and went spending
Carl Erik Rinsch was charged with scamming Netflix out of $11 million for a TV show.
He made cryptocurrency investments and used the profits to buy luxury items, prosecutors said.
Rinsch faces up to 90 years in prison on federal charges of wire fraud and money laundering.
Hollywood director-writer Carl Erik Rinsch has been charged with scamming Netflix out of $11 million, sinking the stolen funds into cryptocurrency, and using the profits for a wild spending spree that included the purchase of five Rolls-Royces.
Rinsch, the director behind the 2013 film "47 Ronin," was arrested on Tuesday in California on federal charges of wire fraud and money laundering in connection to the alleged scheme to defraud the streaming behemoth. He faces a maximum sentence of 90 years behind bars.
Here's how prosecutors allege, in a 12-page indictment filed in Manhattan federal court, that the filmmaker swindled millions of dollars from Netflix.
Netflix, only identified in the indictment as "Streaming Company-1," had paid Rinsch $44 million between 2018 and 2019 for an unfinished sci-fi TV show called "White Horse," prosecutors say.
Under Rinsch's agreement with Netflix, he was to complete the show, which was about a scientist who created a group of super-intelligent clones, according to the court documents.
In March of 2020, Netflix forked over another $11 million to Rinsch after he demanded more money to complete the show, the indictment says.
Prosecutors say that Rinsch "almost immediately" transferred that extra money from his namesake company to his personal accounts.
Rinsch then made several "extremely risky" purchases of securities, including call options on a biopharmaceutical company, and lost more than half of the $11 million in less than two months due to his unsuccessful trades, the indictment says.
While Rinsch was losing most of the $11 million intended to complete "White Horse," he lied to Netflix, saying that the show was "awesome and moving forward really well," according to prosecutors.
Prosecutors say that in 2021 Rinsch transferred what was left of the money to a cryptocurrency exchange account where his luck turned around.
Rinsch "used those funds to speculate on cryptocurrency — which eventually proved profitable," the indictment says. Buying Dogecoin, which Elon Musk has called one of his favorite cryptocurrencies, helped Rinsch turn $4 million into nearly $27 million, The New York Times reported in 2023.
The filmmaker then transferred his profits to another personal bank account before spending $10 million on luxury goods and other expenses, according to prosecutors.
Rinsch spent about $2.4 million on five Rolls-Royces and a Ferrari, $652,000 on watches and clothing, $638,000 on two mattresses, $295,000 on bedding and linens, $3.8 million on furniture and antiques, $1.8 million on credit card bills, and another $1 million on lawyers to sue Netflix "for even more money," the indictment says.
Prosecutors say Rinsch never completed "White Horse" and never returned the stolen money to Netflix.
An attorney for Rinsch did not return a request for comment by Business Insider on Wednesday. Netflix declined to comment.
Last year, an arbitrator sided with Netflix and ruled that Rinsch owed it $8.8 million in damages.
Read the original article on Business Insider
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
3 hours ago
- USA Today
Tony Awards biggest moments: Cynthia Erivo holds space, Nicole Scherzinger wins big
Tony Awards biggest moments: Cynthia Erivo holds space, Nicole Scherzinger wins big Show Caption Hide Caption Cynthia Erivo arrives at Tony Awards red carpet in an intricate gown Cynthia Erivo and Cole Escola pose for cameras wearing an intricate gown at the Tony Awards red carpet. NEW YORK – Broadway has fallen head over heels with a pair of helper robots. "Maybe Happy Ending," a heart-tugging romantic dramedy about androids in near-future South Korea, was the big winner at the Tony Awards June 8, taking home six prizes, including best musical, best director (Michael Arden), and best actor (Darren Criss). The fiercely original show opened to glowing reviews and meager box office last fall, but has gradually become one of the hottest tickets in New York – a rare word-of-mouth success story in the ultra-competitive Broadway landscape. This year's ceremony saw the joyous Afro-Cuban musical "Buena Vista Social Club" and Netflix prequel play "Stranger Things: The First Shadow" scoop up multiple prizes apiece. Kara Young ("Purpose"), Francis Jue ("Yellow Face") and lifetime achievement award winner Harvey Fierstein delivered some of the most stirring speeches of the night, while the Pulitzer Prize-winning "Purpose" conquered the unlikely hit "Oh, Mary!" for best play. Here are more of the biggest moments from this year's star-studded event: Tony Awards 2025 winners list: 'Maybe Happy Ending,' 'Eureka Day,' more win honors Tonys host Cynthia Erivo 'holds space' with Oprah Winfrey in opening number At the top of the telecast, Cynthia Erivo playfully shot down a bevy of suggestions about how to add pizzazz to her opening number. (Blast George Clooney out of a human cannon? Hard pass.) The "Color Purple" powerhouse then ran into Winfrey in the wings, asking her, "What do you do when everyone is telling you what you need to do?" Winfrey dispensed her wisdom, saying, "Forget about them, babe. The only thing you need to do is be yourself." Grinning, Erivo proceeded to grab Winfrey's finger – recreating her viral "holding space" meme with "Wicked" co-star Ariana Grande from last fall. Watch: Ariana Grande and Cynthia Erivo sing 'For Good' in first 'Wicked: For Good' trailer "There's no place like home," Erivo said onstage, in one of her many nods to "Wicked" and "The Wizard of Oz" throughout the night. "And Broadway has always been mine." Sarah Snook says 'Succession' group chat has been going wild since her Tony win Sarah Snook, who's best known to HBO fans as Shiv Roy on "Succession," earned her first Tony Award for best leading actress in a play for "The Picture of Dorian Gray," giving a marathon performance as 26 different characters in the one-person show. Several "Succession" alums have graced Broadway this past year, including Jeremy Strong ("The Enemy of the People"), Kieran Culkin ("Glengarry Glen Ross"), Juliana Canfield ("Stereophonic"), and Molly Griggs ("John Proctor is the Villain"). "We haven't done much flaunting of awards in photos, but it's such a special group chat," Snook told reporters backstage. "It's a really special group of people and we're all theater nerds deep down." Last spring, Cate Blanchett's production company Dirty Films acquired movie rights to bring "Dorian Gray" to the screen. Snook said that she hasn't yet heard anything about the potential adaptation, although she would be open to reprising her roles. "I don't know how this gets turned into a film," Snook admitted. "It's a particularly complex piece to do as a theater show. Dramaturgically, it holds up, and I think Kip would be an incredible director for that project. And if I got to be a part of that, that would be a dream come true." Nicole Scherzinger, Audra McDonald, 'Hamilton' reunion hit Tony performance highs To celebrate the 10th anniversary of "Hamilton," Lin-Manuel Miranda, Leslie Odom Jr. and the original Broadway cast took the stage for an electrifying medley of the most beloved songs from the groundbreaking hip-hop musical, including "My Shot," "The Schuyler Sisters," "You'll Be Back" and "The Room Where It Happens." Audra McDonald also brought the audience to its feet with her ferociously emotional rendition of "Rose's Turn" from "Gypsy." 'Hamilton' reunion! Watch original stars perform 'Satisfied' at film screening Earlier in the night, "Sunset Boulevard" leading lady Nicole Scherzinger took our breath away with a stunning rendition of "As If We Never Said Goodbye," introduced by the show's original Broadway star, Glenn Close. 'Sunset Boulevard' review: Nicole Scherzinger is transcendent in bold new revival Scherzinger went on to win the Tony for best leading actress in a musical, in what was considered a neck-in-neck race with McDonald. 'Maybe Happy Ending' star Darren Criss dedicates Tony Award to his wife and kids In one of the closest races of the night, Criss took home best leading actor in a musical for "Maybe Happy Ending," trouncing formidable contenders Jonathan Groff ("Just in Time") and Tom Francis ("Sunset Boulevard"). The former "Glee" star got choked up as he thanked his wife, Mia, for helping raise their two young children amid his demanding Broadway schedule. "The real hero about this, for this remarkable journey, is my wife, Mia, who took a massive swing on allowing me to do this and to allow this crazy upheaval in our life to make this logistically possible," Criss said. More: Darren Criss on why playing a robot in 'Maybe Happy Ending' makes him want to cry "And for bearing the brunt of raising two tiny friends under 3 so that I could raise a singing robot at the Belasco Theatre eight times a week. Mia, you're the very pedestal that upholds the shiny, spinny bit in our lives, and your love and your support for me and our beautiful children, combined with the miracle of working on something as magical as 'Maybe Happy Ending' has been and will always be, award enough." Cole Escola sprints onstage, thanks Grindr hookup in Tony speech Escola, the deranged genius behind "Oh, Mary!", won best leading actor in a play for their inspired turn as first lady Mary Todd Lincoln. Channeling Bernadette Peters in an off-the-shoulder Wiederhoeft gown, Escola feverishly sprinted to the stage, where they thanked fellow best actor nominees, including George Clooney and Daniel Dae Kim. "It's an honor to be in your company," Escola said. "It's been a sincere pleasure spending time with you over warm salads at all these (Tony) luncheons." They continued to thank their mom and their "whole gang" of friends. "Oh, and Tebow from Grindr and Amy Sedaris, who always reminds me how important she is to me. And she is." Written by Escola, "Oh, Mary!" imagines Lincoln as an alcoholic wannabe cabaret star. Asked by reporters whether they would consider an Eleanor Roosevelt comedy next, Escola joked that she is "played out. It would have to be something original, not another historical figure."
Tom's Guide
3 hours ago
- Tom's Guide
5 top new shows to stream this week on Netflix, Hulu and more (June 9-15)
Summer TV keeps the good stuff coming with new shows premiering on Netflix, Hulu and other streaming services, as well as on broadcast and cable TV. This week, Arnold Schwarzenegger's "FUBAR" returns for a high-stakes second season packed with espionage and humor. For fans of Alex Cooper's podcast "Call Her Daddy," the docuseries "Call Her Alex" offers an intimate look at her rise to stardom. Meanwhile, "Granchester" season 10 invites you back to the cozy English village for another round of charm and mystery. Here are our top picks for new TV shows to watch this week. What happens when a college athlete loses everything — then grabs a mic and rewrites the rules? This two-part docuseries digs into Alex Cooper's rollercoaster rise from small-town kid to the force behind 'Call Her Daddy,' one of the biggest podcasts in the world. The doc doesn't shy away from the drama. Yes, Sofia's exit is in there, and Dave Portnoy shows up at some point. But it's also got heart: childhood clips, tour prep, real talk. Cooper isn't just telling her story; she's owning it. Whether you've been with her since the Barstool days or you're just pod-curious, this one's worth watching. All episodes premiere Tuesday, June 10 at 12 a.m. ET on Hulu "RHOM' is back to turn up the heat, just in time for summer. Season 7 finds Alexia reeling from a surprise divorce, Marysol planning a wedding, Lisa living her best Milan runway life and Larsa navigating singlehood. Get instant access to breaking news, the hottest reviews, great deals and helpful tips. Meanwhile, Guerdy is cancer-free but not drama-free, Julia's juggling babies and opera, and newcomer Stephanie Shojaee struts in with Birkins and zero chill. It's hot, it's chaotic and it's Miami, so 'Housewives' stans should buckle up. Episode 1 premieres Wednesday, June 11 at 9 p.m. ET on Bravo (via Sling or Fubo) or next day on Peacock Arnold is back, baby — and this time, he's bringing Carrie-Anne Moss. 'FUBAR' season 2 cranks up the action as Luke Brunner faces off with an old flame who might end the world … or ruin his life. Luke and daughter Emma (Monica Barbaro) get deeper into the spy game and the mess is even bigger this time — emotionally and explosively. Add in Moss, who trades blows and barbs with Schwarzenegger like she's been doing it for years. The new episodes land right in time for Father's Day. Dad TV for the win. All episodes premiere Thursday, June 12 at 3 a.m. ET on Netflix What if your soulmate turned out to be a scammer? This two-part docuseries exposes the deeply unsettling story of Heather Rovet, a Toronto real estate broker who thought she'd found 'the one.' For three years, her life with Jace felt like a dream … until she discovered he was actually Jason Porter, a career con artist with a history of duping women. What follows isn't just a jaw-dropping unraveling of lies; it's Heather flipping the script, tracking down other victims and refusing to stay silent. Her story is more terrifying than any dating app horror story you've heard. All episodes premiere Friday, June 13 at 3 a.m. ET on Prime Video Life in Grantchester village is anything but quiet in season 10. Alphy Kottaram (Rishi Nair) has finally found his footing, but his past still casts a long shadow. Detective Geordie Keating (Robson Green) is juggling the ups and downs of fatherhood, while Cathy (Kacey Ainsworth) is stepping up her game with some help from Mrs. Chapman. Just when Easter celebrations get underway, a suspicious death shakes things up, pulling everyone into a new mystery. Episode 1 premieres Sunday, June 15 at 8 p.m. ET on PBS
New York Times
5 hours ago
- New York Times
Cole Escola Wins the Tony Award for Best Actor in a Play
Cole Escola won the Tony for best actor in a play for their performance in the outlandish, ahistoric comedy 'Oh, Mary!' This is Escola's Broadway debut, and first Tony. Escola, who is nonbinary, plays a self-indulgent, scheming Mary Todd Lincoln, who aspires to become a chanteuse. As a result, her boredom — which includes pining to perform her 'madcap medleys' of yesteryear — drives her to all kinds of antics. (With Cole prancing around in a hoop skirt, hilarity ensues.) The New York Times chief theater critic, Jesse Green, called 'Oh, Mary!,' which Escola also wrote, 'one of the best crafted and most exactingly directed Broadway comedies in years.' Directed by Sam Pinkleton, the show opened at the Lyceum Theater last summer after a sold-out and twice-extended Off Broadway run. The play has also been extended multiple times since it transferred to Broadway. (It was the first show in the Lyceum's 121-year history to gross more than $1 million in a single week.) Escola, known for their roles in Hulu's 'Difficult People,' TBS's 'Search Party' and sketches on YouTube, came up through New York's cabaret and alt comedy scenes. The premise for 'Oh, Mary!' began with an idea, which Escola sat on for more than 12 years: 'What if Abraham Lincoln's assassination wasn't such a bad thing for Mary Todd?' The Tony Awards, like the Oscars, use gendered categories for performers, and Escola agreed to be considered eligible for an award as an actor. Escola isn't the first nonbinary actor to win a Tony Award. In 2023, J. Harrison Ghee became the first out nonbinary performer to win a Tony for best leading actor in a musical, for 'Some Like It Hot,' and Alex Newell became the first out nonbinary performer to win for best featured actor in a musical for 'Shucked.'
