Hollywood director Carl Erik Rinsch has been sentenced to 30 months in prison after being convicted of defrauding streaming giant Netflix out of $11 million, a federal court ruled Monday.
Rinsch was found guilty in December of wire fraud, money laundering and related charges tied to an unfinished science-fiction series originally titled White Horse, later renamed Conquest.
Netflix commissioned Rinsch in 2018 to create and direct the series and provided about $55 million in funding, but prosecutors said no episodes were ever delivered.
According to court records and testimony, Rinsch later requested an additional $11 million to complete production. Prosecutors said he instead transferred the funds into personal accounts and used them for high-risk investments, including cryptocurrency and stock trading, as well as luxury purchases.
He reportedly lost a large portion of the funds within months.
During the trial in New York, Netflix executives testified that the company had only approved funding for one season, which was never completed. Rinsch also took the stand, arguing the situation was a misunderstanding and that he believed the money was intended to sustain production during the COVID-19 pandemic.
Judge Jay Rakoff also ordered $11 million in forfeiture and three years of supervised release. Rinsch had faced a maximum sentence of up to 90 years.
Rinsch is best known for directing the 2013 film 47 Ronin.
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