Carl Rinsch, a filmmaker, is facing a potential decade in prison after conning Netflix out of $44 million for a sci-fi series he never finished.
Instead of completing the show, he spent the funds on luxury cars, cryptocurrency, and high-end furniture.
The Conviction
A 48-year-old director, Carl Rinsch, was convicted in December on federal charges including money laundering, illegal transactions, and wire fraud.
Prosecutors stated that Rinsch took $44 million from Netflix to produce the sci-fi series White Horse, later receiving an additional $11 million after claiming it was needed to finish production.
Instead of completing the show, Rinsch spent the money on a Ferrari, multiple Rolls-Royces, $652,000 on watches and clothing, and $3.787 million on furniture and antiques. He also moved funds into cryptocurrency and personal accounts. The series was never completed.
A Plea for Leniency
Keanu Reeves, who directed Rinsch’s film 47 Ronin in 2011, submitted a letter to U.S. District Judge Jed Rakoff requesting leniency.
Reeves described Rinsch as a friend and noted that the project "White Horse" was "a superb and visionary work of art, although unfinished."
Reeves wrote that Rinsch "can self-sabotage by amplifying the scale, scope, and landscape of what had been negotiated" and offered this as insight into his actions.
Reeves added that he has seen Rinsch "bring exceptional joy and warmth to the people around him" and participate in "wonderful artistic environments."
Sentencing
Rinsch faces up to 121 months (just over 10 years) in prison under sentencing guidelines.
He is expected to pay $11 million in restitution to Netflix, plus $4.4 million in attorney fees.
Sentencing is scheduled for June 29.