Filmmaker found guilty of scamming $11 million from Netflix for crypto bets – DL News
A Hollywood filmmaker has been convicted of scamming Netflix out of $11 million and blowing the cash on crypto and other investments.
Carl Erik Rinsch, who directed the 2013 Keanu Reeves film “47 Ronin,” was on Thursday found guilty of defrauding the streaming service into giving him the cash to make a science fiction show called “White Horse.”
After receiving $44 million, Rinsch, 48, persuaded Netflix to give him another $11 million in 2020.
But instead of using the money to fund the show, Rinsch transferred the money to a personal brokerage account and lost most of it speculating on “extremely risky” securities, according to court documents.
Rinsch then used the remainder to invest in crypto — and made some gains in 2021….
