Latest news with #47Ronin
Yahoo
03-04-2025
- Entertainment
- Yahoo
Netflix Gets Fall Trial Start Against Director Who Allegedly Scammed $11M Out Of Streamer
Netflix may never see the more than $11 million the streamer & the feds say Carl Rinsch owes them, but they will see the director in court later this year. In a hearing Thursday in federal court NYC Carl Rinsch entered a not guilty plea and Judge Jed S. Rakoff put a September 8, 2025 trial start date on the calendar. Indicted by the Department of Justice on March 18 for fraud, and 'engaging in monetary transactions in property derived from specified unlawful activity,' Rinsch is out on a $100,000 bond that he posted earlier this month. More from Deadline Naomi Baker & Jay Reeves To Lead New Tyler Perry Netflix Drama Feature 'Doing Life' 'Fubar' Season 2 Gets Summer Premiere Date; First-Look Images Reveal Carrie-Anne Moss As Arnold Schwarzenegger's Old Flame Meryl Streep In Talks To Play Aslan In Greta Gerwig & Netflix's Narnia Movie The director of the never completed and never to be seen android drama series White Horse/Conquest, the 47-year-old Rinsch could be incarcerated for the rest of his life if found guilty by a jury. Netflix wrote off its entire $55 million investment in the series in late 2020, but were awarded $11.8 million in mid-2024 out of arbitration proceedings with the 47 Ronin filmmaker. Rinsch is due on the West Coast later this month for a debtor's examination in L.A. Superior Court. Having spent millions on credit cards, lawyers, five Rolls-Royces and one Ferrari, luxury hotels, watches and antiques, Rinsch now claims to be totally broke. Netflix's outside attorneys want a through inventory of his assets and belongings to see if they can squeeze any of the cash they are owned from the Rinsch stone. Contacted this afternoon by Deadline, Netflix reps had no comment on the hearing in the Big Apple earlier Thursday. Arrested in the City of Angels by the feds and cops on March 18, Rinsch is 'charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison; one count of money laundering, which carries a maximum sentence of 20 years in prison; and five counts of engaging in monetary transactions in property derived from specified unlawful activity, each of which carries a maximum sentence of 10 years in prison,' according to the U.S. Attorney's office for the Southern District of New York. Coming off the flop of 2013's 47 Ronin but armed with the friendship and backing of Keanu Reeves, once prominent commercial director Rinsch found himself and the show then known as White Horse in the middle of a bidding war in 2018. Then Netflix exec Cindy Holland yanked the project out of the hands of Amazon with a $61 million deal. Any sunshine and rainbows that came out of that soon turned dark as Rinsch blew through millions and millions with nothing to show for it. Essentially getting money for nothing ($44 million, to be exact) final-cut holding, Rinsch asked and received another $11 million from the company in 2020. The director, who may have some mental health issues according to court filings, said the funds were for various and pre-and post-production needs to complete the series. That never happened. Best of Deadline Everything We Know About 'Hacks' Season 4 So Far 2025 TV Series Renewals: Photo Gallery 2025-26 Awards Season Calendar: Dates For Tonys, Emmys, Oscars & More
Yahoo
03-04-2025
- Entertainment
- Yahoo
Director Carl Rinsch Pleads Not Guilty to Defrauding Netflix, Spending $11 Million Meant for Sci-Fi Series on Cars and Crypto
Carl Rinsch has pleaded not guilty to charges of fraud and money laundering, after the director was accused of taking $11 million from Netflix — meant for a sci-fi series that was never completed — and spending it on cars and cryptocurrency. Rinsch, who was out on a $100,000 bond, appeared in a downtown Manhattan courthouse Thursday afternoon for the arraignment, where a judge cracked jokes in a room packed with Columbia law students. Later in April, Rinsch is due back in civil court in Los Angeles for a debtor's examination by Netflix's lawyers. The entertainment company has obtained an $11.8 million judgment and is attempting to locate assets it may be able to seize. More from Variety 'Fubar' Season 2: Arnold Schwarzenegger Squares Off With Carrie-Anne Moss in First Look, Sets June Release Date Netflix Supports Brazilian Cinematheque Restoration With $875,000 Cash Donation Netflix's Medical Drama 'Pulse' Is Nearly Dead On Arrival: TV Review A trial date was set for Sept. 8, along with a continuation of Rinsch's bail conditions. Most of the evidence in this case has been handed over to the defense, but the prosecution said they have several hard drives and laptops for which they are currently attempting to breach security protocols. The judge set a May deadline for that evidence to be produced. If the case goes to trial, Rinsch could face up to 20 years in prison. Though, the judge said, 'I don't pay much attention to the [sentencing] guidelines,' calling them 'wholly irrational.' Rinsch was once an up-and-coming director whose futuristic ads for Heineken, BMW and Mercedes led to a job helming '47 Ronin,' an original samurai film starring Keanu Reeves. While the film flopped, costing Universal at least $120 million, Rinsch had powerful allies. He considered Ridley Scott a mentor, and Reeves would go on to invest in 'White Horse,' his short-form TV series about humanoid AI beings. That project bounced around Hollywood, attracting interest from Annapurna and Rian Johnson. Six episodes were shot, ranging from four to 10 minutes in length, with the plan to shoot seven more. In 2018, Netflix executives reviewed the script and agreed to put $44 million into completing the series — renamed 'Conquest' — while buying out the previous investors. After the series went back into production in Brazil, Rinsch went over budget. According to an arbitrator's ruling, there were numerous other problems, too, including casting issues and allegations of harassment and abuse on set. Netflix wired an additional $11 million to Rinsch to finish the first season of 'Conquest.' Prosecutors allege the director transferred the money into a personal account and later used it to buy cars and luxury goods (among them: a $28,000 sofa and two mattresses totaling $650,300), as well as gamble on cryptocurrency and the stock market. In 2020, Netflix wrote off the $55 million investment, causing Rinsch to spiral and send inflammatory emails to company executives, according to the ruling. At an arbitration hearing, Rinsch testified that this behavior was the result of his autism. 'Whatever's going on there, I can tell you it's not drug-induced,' he said. 'It's not mentally ill. It's exacerbating a different neurotype that most people might not be able to understand.' Rinsch allegedly went on spending sprees, and his cryptocurrency balance dropped from $26.7 million to $68,000 from May 2021 to May 2023. In 2024, he told a judge he was virtually broke, as Netflix moved to obtain its $11.8 million judgment. Best of Variety New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in April 2025 The Best Celebrity Memoirs to Read This Year: From Chelsea Handler to Anthony Hopkins
Yahoo
22-03-2025
- Entertainment
- Yahoo
Netflix gave him $11M to produce a show. He spent it on luxury cars and crypto, DOJ says
(KTLA) – A Hollywood filmmaker who directed the Keanu Reeves-led samurai epic '47 Ronin' was arrested and charged with multiple accounts of fraud for allegedly bilking millions from Netflix for a TV show he promised but never delivered. Carl Erik Rinsch was arrested earlier this week in West Hollywood and appeared in federal court to face several charges for defrauding the streaming giant, according to the U.S. Department of Justice. Rinsch, 47, whose credits also include several short films and commercial ads, had been hired by Netflix in 2018 to produce a sci-fi series titled 'White Horse.' After Netflix spent $44 million on the project, the show was only partially completed, the DOJ says. Netflix eventually agreed to transfer $11 million more to a company controlled by Rinsch in order to purchase the existing episodes and get the show over the finish line. But Rinsch, prosecutors allege, didn't use that money to complete the project. Instead, they say he used it to fund his lifestyle and make several failed investments. Within days of receiving the Netflix cash, Rinsch allegedly transferred the funds to different bank accounts before consolidating them into a brokerage account. He then used those funds to purchase securities and cryptocurrencies that proved to be unsuccessful investments. 'In less than two months after receiving $11 million … Rinsch had lost more than half of those funds,' the DOJ says. He allegedly used the remaining cash to pay for personal expenses, including hundreds of thousands of dollars on luxury hotel stays and vacation rental properties, over $3.7 million on furniture and antiques, nearly $1 million on beds and linen, and five Rolls-Royces and a Ferrari totalling more than $2.4 million. He also spent about $650,000 on watches and clothing. The series was never completed and the funds were never returned, charging documents state. Rinsch, who lives in Los Angeles, has been charged with wire fraud, money laundering and additional counts related to the scheme, and could face decades in prison if convicted. The case was investigated by the FBI. Acting U.S. Attorney Matthew Podolsky called Rinsch's arrest a strong reminder that the DOJ and the FBI 'remain vigilant in the fight against fraud and will bring those who cheat and steal to justice.' '47 Ronin,' Rinsch's only directorial effort to make it to theaters, boasts a 16% rating on Rotten Tomatoes. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
21-03-2025
- Entertainment
- Yahoo
Netflix gave him $11 million to produce a TV show. He spent it on luxury cars and crypto, DOJ says
A Hollywood filmmaker who directed the Keanu Reeves-led samurai epic '47 Ronin' was arrested and charged with multiple accounts of fraud for allegedly bilking millions from Netflix for a TV show he promised but never delivered. Carl Erik Rinsch was arrested earlier this week in West Hollywood and appeared in federal court to face several charges for defrauding the streaming giant, according to the U.S. Department of Justice. Rinsch, 47, whose credits also include several short films and commercial ads, had been hired by Netflix in 2018 to produce a sci-fi series titled 'White Horse.' After Netflix spent $44 million on the project, the show was only partially completed, the DOJ says. Netflix eventually agreed to transfer $11 million more to a company controlled by Rinsch in order to purchase the existing episodes and get the show over the finish line. But Rinsch, prosecutors allege, didn't use that money to complete the project. Instead, he used it to fund his lifestyle and make several failed investments. Within days of receiving the Netflix cash, Rinsch allegedly transferred the funds to different bank accounts before consolidating them into a brokerage account. He then used those funds to purchase securities and cryptocurrencies that proved to be unsuccessful investments. 'In less than two months after receiving $11 million … Rinsch had lost more than half of those funds,' the DOJ says, He continued to use remaining cash to pay for personal expenses, including hundreds of thousands of dollars on luxury hotel stays and vacation rental properties, over $3.7 million on furniture and antiques, nearly $1 million on beds and linen, and five Rolls-Royces and a Ferrari totalling more than $2.4 million. He also spent about $650,000 on watches and clothing. With the remaining funds, he allegedly paid some of his credit card debt and then hired lawyers to settle his divorce and attempt to sue Netflix for even more money. The series was never completed and the funds were never returned, charging documents state. Rinsch, who lives in Los Angeles, has been charged with wire fraud, money laundering and additional counts related to the scheme, and could face decades in prison if convicted. The case was investigated by the FBI. Acting U.S. Attorney Matthew Podolsky called Rinsch's arrest a strong reminder that the DOJ and the FBI 'remain vigilant in the fight against fraud and will bring those who cheat and steal to justice.' '47 Ronin,' Rinsch's only directorial effort to make it to theaters, boasts a 16% rating on Rotten Tomatoes. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
20-03-2025
- Entertainment
- Yahoo
US director accused of scamming Netflix out of millions
Hollywood filmmaker Carl Rinsch was hired by Netflix to make a new science-fiction series. Instead, federal prosecutors say, he embezzled more than $11 million from the streaming giant and spent it on luxury cars and crypto. Rinsch, known for the 2013 film "47 Ronin" starring Keanu Reeves, was indicted this week on charges of wire fraud and money laundering and could face decades in prison if convicted in connection with the alleged scam. The indictment was filed in a federal court in New York and unsealed on Tuesday. The 47-year-old filmmaker was arrested the same day. "Carl Rinsch allegedly stole more than $11 million from a prominent streaming platform to finance lavish purchases and personal investments instead of completing a promised television series," FBI Assistant Director Leslie Backschies said in a statement. Although Netflix is never named in the filing, Rinsch was previously reported to be in a dispute with the company over a planned series initially titled "White Horse" and later renamed "Conquest." The indictment says the show was meant to focus on a scientist who created a group of powerful clones "banished to a walled area in a Brazilian city, where they began developing advanced technology and came into conflict with humans and each other." It features still photos from "six short-form episodes" that were apparently completed by Rinsch to pitch the show. He ultimately entered into a deal with Netflix to create a full season of episodes. That deal was reached "in or about 2018," the indictment says. Netflix then paid "approximately $44 million" for the show's production between 2018 and 2019, during the peak of the streaming boom. Those funds were transferred to Rinsch's production company, and his request for an additional $11 million to purportedly finish the project was granted. But Rinsch allegedly quickly transferred the money through a number of accounts for his own personal use. Among the purchases Rinsch allegedly made were luxury clothing and furniture, a Ferrari and five Rolls-Royces, dodgy stock market buys, investing in cryptocurrency, and paying for lawyers to sue the streamer and handle his divorce. "The FBI will continue to reel in any individual who seeks to defraud businesses," Backschies said. Netflix declined to comment when contacted by AFP about the case. pr/jgc/sst
