Carl Erik Rinsch (49), Hollywood director and writer, was convicted for stealing $11 million from Netflix . A part of the ill-gotten funds went into crypto. U.S. Attorney’s Office in New York, USA, announced on Thursday that “Rinsch took $11 million meant for a TV show and gambled it on speculative stock options and crypto transactions.” The ’47 Ronin’ director was convicted of one count of wire fraud, which carries a maximum sentence of 20 years in prison, and one count of money laundering, with a max sentence of 20 years in prison. Additionally, the prosecutors proved five counts of engaging in monetary transactions in property derived from specified unlawful activity. Each of these carries a maximum sentence of 10 years in prison. He will receive his sentence on April 17, 2026. According to Fortune, Rinsch’s attorney argued that the verdict “could set a dangerous precedent for artists who become embroiled in contractual and creative disputes with their benefactors, in this case one of the largest media companies in the world, finding themselves indicted by the federal government for fraud.” You may also like: Netflix Director Gambles $4M Show’s Budget on Dogecoin, Makes $27M in Profits The House Financial Services Committee sent a letter to the SEC on December 12, 2025, urging the regulator to amend existing rules to permit Bitcoin and other digital assets within 401(k) plans. The move seeks to formally integrate crypto into the U.S. retirement system, potentially unlocking a new capital source for the asset class.House Committee Demands SEC Action on Crypto in Retirement FundsThe letter directly references President Trump's August 7, 2025, executive order,... Betting on Dogecoin Rinsch allegedly spent $4 million on Dogecoin (DOGE) , yielding nearly $27 million in profits. The initial investment should’ve gone to a show production. In 2018, the director reached an agreement with an unnamed streaming service, per which the latter would pay him $44 million for the episodes of the science fiction project ‘White Horse’. Carl Erik Rinsch had already burned through more than $44 million of Netflix’s money when the streaming giant wired him an additional $11 million in March 2020 to finish a sci-fi series called “White Horse.” But according to the federal indictment, the show was never completed.… pic.twitter.com/a6NwD4XB7k — Yahoo News (@YahooNews) December 4, 2025 However, after Netflix payed him the agreed-upon amount, Rinsch asked for more money in late 2019-early 2020. The company agreed to pay another $11 million for him to finish the show, transferring the funds in March. Within only a few days, Rinsch moved the millions through a number of different bank accounts and into a personal brokerage account. He then used it to “make a number of personal and speculative purchases of securities,” the announcement says. “His trading was unsuccessful, and in less than two months after receiving $11 million , Rinsch had lost more than half of those funds.” Additionally, he went on to spend millions on luxury items, credit card bills, as well as cryptocurrency investments. Rinsch never finished the show. You may also like: Filmmaker Indicted for Misusing $11M Netflix Funds on Stock & Crypto Gambling Federal prosecutors have indicted filmmaker Carl Erik Rinsch, alleging he misappropriated $11 million from Netflix to fund risky stock and cryptocurrency trades instead of producing a sci-fi television series.The U.S. Department of Justice (DOJ) unsealed the indictment in a Manhattan federal court on March 18, charging Rinsch with fraud and money laundering.If convicted, he could face up to 20 years in prison.Prosecutors: Netflix Funded Rinsch’s Sci-Fi Series Before Alleged... The post ‘47 Ronin’ Director Convicted of $11 Million Fraud in Netflix Case appeared first on Cryptonews .
