A filmmaker convicted of misusing $11 million from Netflix has been sentenced to prison after prosecutors said production funds were diverted to cryptocurrency, luxury goods and personal expenses.

irector Carl Rinsch has been sentenced to 30 months in federal prison after being convicted of wire fraud and money laundering in connection with funds Netflix provided for a science-fiction series.

Rinsch, known for directing 47 Ronin, received $11 million from Netflix in 2020 for his series White Horse, also known as Conquest. Prosecutors said the money was supposed to be used to continue production, but was instead diverted to personal accounts.

The court heard that Rinsch used the funds for speculative investments, including stock trades and cryptocurrency. His dogecoin investment reportedly grew substantially, but prosecutors said the money was still not used to complete the project.

Instead, Rinsch spent large amounts on luxury vehicles, antiques, furniture, designer clothing, watches and personal credit card payments. The purchases included multiple Rolls-Royces, a Ferrari and other high-end goods.

Netflix had already invested tens of millions of dollars in the project before providing the additional $11 million. The series was never completed.

Rinsch was ordered to pay $11 million in restitution and will serve three years of supervised release after his prison sentence.

The sentence followed arguments about the seriousness of the fraud and Rinsch’s mental health. The court imposed the 30-month sentence despite a request for leniency supported by actor Keanu Reeves.

The post Director Sentenced to 30 Months in $11M Netflix Fraud Case appeared first on Canadian Fraud News Inc. | Fraud related news | Fraud in Canada.

Originally published on Canadian Fraud News.