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Hollywood director Carl Erik Rinsch, best known for 47 Ronin, has been convicted of fraud for $11 million provided by Netflix including investing in Dogecoin.
Author: Sahil Thakur
13th December 2025 – Hollywood director Carl Erik Rinsch, best known for directing 47 Ronin, has been convicted of fraud after misusing $11 million provided by Netflix including investing in Dogecoin. Prosecutors said he diverted the money into speculative stock trades, cryptocurrency bets, and personal luxury spending instead of finishing a television series.
The US Attorney’s Office in New York announced the conviction on Thursday. Federal prosecutors said Rinsch took funds meant for production and gambled them on high‑risk investments, including Dogecoin.
Rinsch now faces serious prison time. The jury found him guilty of one count of wire fraud and one count of money laundering. Each charge carries a maximum sentence of 20 years. Prosecutors also proved five additional counts related to unlawful financial transactions, each punishable by up to 10 years in prison.
The court scheduled his sentencing for April 17, 2026.
In 2018, Netflix hired Rinsch to develop a big‑budget science fiction series titled White Horse. The company paid him about $44 million over two years for development and early production work.
However, the show never reached completion.
In early 2020, Rinsch told Netflix he needed more money to finish the series, citing production challenges during the early stages of the pandemic. Netflix agreed and transferred an additional $11 million in March 2020.
According to prosecutors, the money never went toward production.
Within days, Rinsch moved the funds through multiple bank accounts and into a personal brokerage account. He then placed aggressive stock option trades and suffered heavy losses. Prosecutors said he lost more than half of the money within two months.
Rinsch also funneled millions into cryptocurrency. Court filings show he spent roughly $4 million on Dogecoin. That bet briefly paid off. At its peak, the Dogecoin position grew to nearly $27 million.
Instead of returning the money or using it for production, prosecutors said Rinsch spent heavily on personal items. Records showed purchases of luxury cars, expensive furniture, designer clothing, hotel stays, and large credit card bills.
Despite the spending, the White Horse series never moved forward. Netflix eventually canceled the project and pursued arbitration to recover the funds.
Federal investigators arrested Rinsch in March 2025. Prosecutors accused him of lying to Netflix executives about how he planned to use the additional funding.
At trial, the government presented emails, bank records, and brokerage data to show intent. They argued Rinsch knowingly misled Netflix and immediately redirected the money for personal use.
The jury agreed.
US District Judge Jed Rakoff presided over the case. Prosecutors described the conduct as deliberate fraud rather than a creative dispute.
Rinsch’s lawyer pushed back on that view. He argued the verdict could create a dangerous precedent for artists involved in contractual conflicts with major studios. He said creative disagreements should not turn into federal criminal cases.
The court rejected that argument.
Rinsch now awaits sentencing in April 2026. While the maximum penalties exceed several decades, legal experts expect a shorter sentence based on federal guidelines.
Netflix has already won arbitration and continues to seek repayment through civil court.
The case has drawn attention across Hollywood and the crypto world. It highlights how speculative trading, including memecoin bets like Dogecoin, can intersect with fraud when misused corporate funds are involved.
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