A shocking tale of alleged financial misconduct has emerged, with a Netflix director facing accusations of misappropriating millions meant for a high-profile sci-fi series. Carl Erik Rinsch, 47, found himself in handcuffs in West Hollywood on Tuesday, arrested on charges of fraud and money laundering after prosecutors allege he diverted funds intended for the completion of his project, “White Horse.”
The ambitious sci-fi series, also known as “Conquest,” was pitched to Netflix in 2018. Rinsch had already laid the groundwork, filming six episodes and a trailer with the backing of his mentor, Keanu Reeves. Eager to acquire the show and produce its first season, Netflix agreed to invest a substantial $44 million.
A Series in Trouble
The initial production plan, outlined in 2019, envisioned filming across a global landscape, including Kenya, Mexico, Romania, Berlin, Hungary, and Uruguay. However, production quickly veered off course. Rinsch, after commencing filming in Brazil, allegedly exceeded his allocated budget and requested additional funding from Netflix. Despite promising to deliver seven more episodes, he informed the streaming giant that the existing funds would only cover completing a single episode.
The Real Trouble Begins
Production abruptly halted in Hungary in December 2019, leaving the fate of “White Horse” in limbo. In March 2020, Netflix reportedly wired Rinsch an additional $11 million in an attempt to salvage the project, according to court documents reviewed by The Independent. However, this capital infusion allegedly triggered a spending spree, with Rinsch transferring the funds to his personal accounts.
Within two months, Rinsch allegedly squandered a significant portion of the $11 million through high-risk stock market speculation. Despite the financial turmoil, Rinsch reportedly assured Netflix that “White Horse” production was proceeding smoothly.
According to reports, the filmmaker ventured into the volatile cryptocurrency market, where he allegedly experienced a profitable surge. According to the indictment, these earnings were transferred to his personal bank account.
Big Spender
Court documents paint a picture of extravagant spending. Rinsch allegedly used the funds to cover approximately $3 million in credit card bills, legal fees, and divorce-related expenses. He also indulged in luxurious stays at the Four Seasons Hotel and other high-end properties.
The indictment states that Rinsch allegedly spent nearly $4 million on antique furniture, $652,000 on watches and clothing, $638,000 on mattresses, and $295,000 on luxury bedding. The indictment also detailed the purchase of five Rolls-Royces and a Ferrari, totaling approximately $2.4 million. The charges could land him in prison for decades if he is found guilty.
“White Horse” remains unfinished, and Rinsch has not returned the funds to Netflix. The indictment was filed in New York. Netflix declined to comment on the matter. However, this case raises serious questions about the oversight and accountability in high-budget film productions.
Carl Erik Rinsch directed the 2013 film 47 Ronin, starring Keanu Reeves. In it, a band of samurai set out to avenge the death and dishonor of their master at the hands of a ruthless shogun. 47 Ronin is streaming on Apple TV, Starz, and Prime Video. He also directed 2010’s The Gift.
We’ll keep you posted as we learn more.
