Hollywood director Carl Erik Rinsch, best known for his work on big-budget productions, has been arrested in West Hollywood for allegedly pulling off a massive financial scheme against Netflix. Prosecutors claim Rinsch swindled the streaming giant out of $11 million, only to splurge it on luxury cars, designer watches, and even a cryptocurrency gamble that backfired spectacularly.
According to The Associated Press, the filmmaker was taken into custody on Tuesday on wire fraud and money laundering charges. Authorities say Rinsch convinced Netflix to fork over an extra $11 million to complete his sci-fi series, White Horse—a project that never saw the light of day. Instead of finishing the show, prosecutors allege he funneled the funds into personal investments, including five Rolls-Royces, a Ferrari, and high-end furniture worth millions.
Court documents reveal that Rinsch burned through the money at an astonishing pace, losing half of it within two months in the crypto market. Despite the financial freefall, he allegedly pocketed profits from his investments, transferring the cash directly into his personal accounts. The spending spree didn’t stop there—records show he shelled out $1.8 million to cover credit card bills, $1 million on legal fees to sue Netflix for even more money, and $652,000 on luxury watches and designer clothing.
On Tuesday, Rinsch appeared in court wearing a turtleneck sweater and jeans, shackled at the hands and ankles. Despite the serious allegations, U.S. Magistrate Judge Pedro V. Castillo granted his release on a $100,000 bond. His attorney, Annie Carney, called the case “purely financial” but declined to comment further.
As the scandal unfolds, one question remains—will Rinsch face serious prison time, or will Hollywood’s wildest spending spree go unpunished?
