Latest news with #Rinsch
Yahoo
03-04-2025
- Entertainment
- Yahoo
Director Carl Rinsch Pleads Not Guilty to Charges in $11 Million Netflix Swindle
Carl Erik Rinsch, the director accused of blowing $11 million of Netflix's money on cars, mattresses, and cryptocurrency, has pleaded not guilty to charges including fraud and money laundering. Rinsch was arrested in March in connection with the alleged misappropriation of the streaming service's funds; a seven-count grand jury indictment detailed the 'scheme to steal millions by soliciting a large investment from a video streaming service, claiming that money would be used to finance a television show that he was creating—but that was fiction.' More from Rolling Stone Sarah Silverman's Comedy Special About Parents' Death Headed to Netflix AI Tries to Kill Issa Rae and Rashida Jones Is a Living Espresso Ad in 'Black Mirror' Trailer Why 'Adolescence' Is Sparking Conversations About Incel Dread Online Netflix hired Rinsch to write and direct a sci-fi series called White Horse (later renamed Conquest) in 2018, but despite Netflix pouring $55 million into the project, the director never delivered a single episode. Rinsch later asked Netflix for an additional $11 million in funding, which — a New York Times report and later the indictment alleged — he used to gamble on the stock market, stay in fancy hotels, and purchase luxury goods. No episodes of Conquest were ever produced. A Sept. 8 trial date was set for Rinsch, who remains free on $100,000 bail, Variety reports. While Rinsch initially faced up to 90 years in prison if convicted on all seven counts, the Manhattan court judge said Thursday that Rinsch would only face up to 20 years if found guilty, though even a sentence that severe is 'wholly irrational.' 'I don't pay much attention to the [sentencing] guidelines,' the judge said. Rinsch also faces a civil trial brought forth by Netflix, which is seeking to recoup some of the $11 million the director allegedly misappropriated; Rinsch has said he is broke, and that his cryptocurrency balance plunged from $26.7 million in May 2021 to $68,000 in May 2023. Best of Rolling Stone The 50 Best 'Saturday Night Live' Characters of All Time Denzel Washington's Movies Ranked, From Worst to Best 70 Greatest Comedies of the 21st Century
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
24-03-2025
- Entertainment
- Yahoo
Netflix Wants $11 Million Back From Director Carl Rinsch, Who Allegedly Spent Lavishly on Cars, Bedding and a $28,000 Sofa
Netflix wants its money back. Five years after wiring $11 million to director Carl Erik Rinsch for a sci-fi series that never got made, the streamer is asking for a return on those funds. More from Variety Chicago's Doc10 Lineup Includes Sundance Hits 'The Perfect Neighbor' and 'Predators' (EXCLUSIVE) 'Black Warrant' Team Unpacks Netflix Series Success at Cinevesture Film Festival 'The Residence' Team on Casting Kylie Minogue, Honoring the Late Andre Braugher and How 'Knives Out' Rescucitated the Whodunit Genre Rinsch, 47, was arrested last week on charges of fraud and money laundering for allegedly using the cash for lavish purchases, speculative investments and legal fees to sue Netflix. He is out on a $100,000 bond and due to be arraigned in federal court in New York on April 3. Later in April, Rinsch is due back in civil court in Los Angeles for a debtor's examination by Netflix's lawyers. The company has obtained an $11.8 million judgment and is attempting to locate assets it may be able to seize. In previous divorce proceedings, Rinsch has said that he is broke. Rinsch owes $420,000 in spousal support to his wife, Gabriela, according to a recent filing from her attorneys. In January 2024, Rinsch told the court is suffering 'severe financial distress.' 'Over the past four years, in lieu of a salary, I have been forced to use company funds for living expenses,' he wrote. He said that his company's revenue had dwindled to nothing, and that he had to liquidate assets and borrow $150,000 from his family to stay afloat. 'My monthly income is zero,' he wrote. 'I have been forced to focus all my efforts on being a 'professional litigant.'' Rinsch, who is from Los Angeles, was once an up-and-coming commercial director with backing from two powerful mentors. Under the tutelage of Ridley Scott, he made futuristic ads for Heineken, BMW and Mercedes. That led to a job directing '47 Ronin,' a samurai film starring Keanu Reeves. After creative turmoil, the film flopped, causing Universal to lose at least $120 million. But Rinsch picked up a key ally. Reeves would go on to invest in 'White Horse,' his short-form TV series about humanoid AI beings. According to a court filing, the project bounced around, starting at Annapurna, then attracting interest from director Rian Johnson, who was brought on to executive produce. Six episodes were shot, ranging from four to 10 minutes in length, with a plan for seven more. In early 2018, Netflix executives were invited to Reeves' house to review the script, and ultimately agreed to put $44 million into completing the project — renamed 'Conquest' — while buying out previous investors. Once production began in Brazil, Rinsch quickly went over budget, according to an arbitrator's ruling. The ruling states there were numerous other problems, including casting issues and allegations of harassment and abuse on set. After further filming in Uruguay and Hungary, production wrapped in December 2019. Prosecutors allege that Rinsch sought an additional $11 million to finish the first season, and then gambled the money on the stock market and on crypto. He is also accused of using the money to buy a fleet of Rolls Royces, luxury items and antique furniture. In late 2020, Netflix decided to write off the $55 million investment. When told that the streamer would no longer fund the project, Rinsch did not take it well, writing an email to a Netflix executive that began, 'Dear Coward,' according the arbitration ruling. 'Time to fess up,' he continued. Other such messages followed, leading some to conclude he had become mentally unstable, according to the ruling. At an arbitration hearing, Rinsch testified that this behavior was the result of his neurodiversity — specifically, autism spectrum disorder. '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.' As of May 2021, Rinsch's crypto bets had left him with a balance of $26.7 million in his Kraken account, according to court filings. In September of that year, he bought a black Hästens Grand Vividus mattress — hand-made in Sweden, and reputedly the world's most expensive mattress — for $439,900. He also bought a white Hästens Vividus King for $210,400. Both were ordered in custom, extra-wide sizes, roughly seven feet square. Rinsch took delivery of one mattress, which he complained was too short. He then tried to cancel his order, asserting that he had become concerned about the 'provenance of horsehair materials' due to ethical concerns and allergies, according to a lawsuit he filed against the company. Hästens sought to charge him a $100,000 return fee. (Most of his suit was dismissed by a judge and the case was ultimately dropped.) In litigation with Netflix, Rinsch testified that he planned to use the mattresses in the second season of 'Conquest' — which Netflix had not ordered. The arbitrator noted that it is customary to rent props or find cheaper substitutes for luxury items. She added that the purchase was 'especially unnecessary' because in Rinsch's own storyboards for a 'palace scene,' the mattress would not have been visible. Around that time, Rinsch also bought $5.4 million worth of furniture, according to the arbitrator's ruling. In one instance, he agreed to buy 14 pieces by the Art Deco designer Jacques Adnet, including a $48,000 desk and cabinet, a $28,000 sofa, and some armchairs. After expressing interest in a larger purchase, he scaled back the order, citing 'financial setbacks.' 'While I could tell you of my woes and disappointment, in markets here and abroad, it makes no difference,' he wrote to the dealer in January 2022. He later sought the return of a $200,000 deposit, saying, 'Our production was the victim of a studio meltdown.' The dealer sued, and after a jury trial in Philadelphia in 2023, Rinsch was ordered to pay a balance of $68,200. Rinsch's Kraken account was down to $1.5 million to $1.8 million by April 2022, according to his testimony in the divorce case. At a hearing in May, a judge raised a concern: 'Did you say, sir, that the crypto you acquired was from production funds?' 'Yes, sir,' Rinsch said. The judge seemed alarmed. 'Hold on a minute,' he said. 'Hold up. Hold up. So in the real world, people in your line of work either have or create an LLC, a loan-out corporation, a close corporation, an entity for the production. All of the money goes into an account held by that entity. Business purposes and business spending is segregated from personal spending. You know, business.' Rinsch replied: 'That's correct.' Prosecutors allege that Rinsch had transferred Netflix's money to a personal account and was rapidly spending it. He spent $1.8 million on credit cards, $1 million on lawyers to sue Netflix and litigate his divorce case, and $652,000 on watches and clothing, according to the indictment. As of May 2023, he had $482,000 in a checking account. His Kraken balance was down to $68,000. He listed monthly expenses including $16,500 on rent and $3,500 on restaurants. The judge ordered him to pay $275,000 to cover his wife's legal fees and to pay for her forensic accountant. 'I don't have that money,' he told the court. 'What can I do? I have no representation here today. I am trying to survive here. I don't even know legally what I can do. Can I write something saying, 'I am sorry, here are my accounts?'' As the judge tried to explain that he couldn't give legal advice, Rinsch interjected: 'Nobody should laugh at me.' The judge noted that he had been paying significant legal expenses. 'You seem to be able to get it,' he said. 'There is no money,' Rinsch repeated. In January 2024, he asserted that the legal costs had left him virtually destitute. His only assets, he claimed, were some kitchen appliances, $5,000 in cash, $3,900 in a brokerage account, and a $110,000 pension through the Directors Guild of America that he is not yet eligible to receive. California had also hit him with tax liens totaling $68,000. His wife's attorneys noted that as of April 2024, he was living at the Laurel in West Hollywood, which is advertised as an 'ultra-luxury' apartment building, which they saw as evidence that he was maintaining his previous standard of living. Rinsch did not respond to a phone call and email seeking comment. Netflix declined to comment. Once Netflix obtained its $11.8 million judgment last August, the company's lawyers hired private investigators to try to track down any remaining assets. Netflix told a judge that it had to move quickly: 'Mr. Rinsch reportedly has a propensity to go on spending sprees.' Best of Variety New Movies Out Now in Theaters: What to See This Week Oscars 2026: First Blind Predictions Including Timothée Chalamet, Emma Stone, 'Wicked: For Good' and More What's Coming to Disney+ in March 2025
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.
