Filmmaker Carl Erik Rinsch has been convicted this week on charges that he scammed Netflix out of $11 million for a TV series that never materialised.
A spokesperson for federal prosecutors in New York indicated that the “47 Ronin” director was convicted of wire fraud, money laundering and other charges reports CBS News.
In a statement, Rinsch’s attorney Benjamin Zeman said he thought the verdict was wrong and “could set a dangerous precedent for artists who become embroiled in contractual and creative disputes with their benefactors, in this case one of the largest media companies in the world, finding themselves indicted by the federal government for fraud.”
Prosecutors claim Netflix had initially paid Rinsch about $44 million for an unfinished sci-fi show called “Conquest” (aka. “White Horse”), and then sent a further $11 million after he said he needed additional funding to wrap up the production.
But instead of putting the money toward the show, Rinsch put the latter cash into a personal account, which went on failed investments and cryptocurrency. He also made some lavish purchases like several Rolls-Royces, a Ferrari, and over $1 million in luxury bedding as well as paying off nearly $2 million in credit card charges.
Rinsch never finished the show, and his sentencing date is set for April. The trial reportedly lasted less than two weeks. The filmmaker was attached to various projects in the late 2000s including an “Alien” reboot and remakes of “Logan’s Run” and “Creature from the Black Lagoon”.
