Hollywood director Carl Erik Rinsch arrested for defrauding $11 million
Famous writer and Hollywood Movies director Carl Erik Rinsch was arrested on Tuesday for fraud with OTT Netflix of $11 million. The money was given to him for a sci-fi show that never aired. According to sources Rinsch has been accused of using the money to invest in cryptocurrencies, to purchase luxury items, including expensive cars like Rolls-Royce and Ferrari.
Who is Carl Erik Rinsch?
Carl Erik Rinsch – a well known Hollywood director and writer is famous for directing the 2013 film “47 Ronin”, starring Keanu Reeves in the lead role. Apart from it, he has worked on many other popular Hollywood projects, including sci-fi and fantasy genre films. However, this new incident in his career can seriously affect his image.
Carl Erik Rinsch Accused of cheating Netflix
Rinsch is accused by Netflix through their counsel over an unfinished show called “White Horse”. According to the charges, Netflix initially paid around $44 million to buy the show which was yet to be finished. Later, Rinsch claimed that he needed additional funds of $11 million to complete the show. Netflix gave him another $11 million demanded by Carl Erik Rinsch for the show.
But, according to prosecutors, Rinsch used this extra money for his personal investments. He also purchased luxury items with that money instead of completing the show. He transferred this money to a personal brokerage account, where he made several unsuccessful investments. After this, he invested the remaining money in the cryptocurrency market, which proved to be a profitable move.
Luxury shopping and spending
Rinsch also used the money he received from Netflix in luxury shopping and personal expenditure. According to reports, he spent about $1.8 million on credit card bills. In addition, he spent $1 million on lawyers, $3.8 million on furniture and antiques, $2.4 million on five Rolls-Royces and a Ferrari, and $652,000 on watches and clothing.
Carl Erik Rinsch Arrest and court proceedings
The 47 years old director and writer Rinsch, was arrested in West Hollywood, California. His initial court hearing took place on Tuesday in federal court in Los Angeles. He appeared in the court wearing a turtleneck sweater and jeans, with hands and feet in shackles.
When asked if he had read the indictment against him, he said “not fully” but told the judge he understood the charges. U.S. Magistrate Judge Pedro V. Castillo ordered him released on a $100,000 bond. Carl Erik Rinsch will now have to appear in court in New York, where the indictment was filed against him.
Carl Erik Rinsch was born in 1976 in Los Angeles, California, U.S. He began his career as an American film director, directing sci-fi and fantasy genre films. His most famous film is “47 Ronin,” which did well at the box office. However, the director has seen many career ups and downs. He is often famous for his creative and ambitious work in Hollywood as a director, but this new controversy could seriously affect his image. After this new allegation, questions are being raised about his future projects and career.
