Carl Rinsch, ‘47 Ronin’ Director, Indicted by the FBI After Allegedly Ripping Netflix Off for $11 Million, for a Sci-Fi Series ‘Conquest’ That Never Saw the Light of the Day
Federal prosecutors have arrested Carl Erik Rinsch, a filmmaker known for directing “47 Ronin,” on charges of defrauding Netflix out of $11 million. The money was intended for a sci-fi series called “White Horse,” later renamed “Conquest,” which he never completed. Authorities say Rinsch misused the funds for personal gain instead of finishing the project.
The trouble began when Netflix paid Rinsch’s company $44 million in 2018 and 2019 to produce the series. The show, centered on a scientist creating artificial humans that rebel, had sparked a bidding war among studios.
By March 2020, Rinsch asked for an additional $11 million, claiming the original amount wasn’t enough. Netflix sent the funds, expecting progress on pre- and post-production work.
Instead, prosecutors allege Rinsch moved the money through various accounts, eventually landing it in his personal brokerage account. Within two months, he lost over half of it in risky stock and cryptocurrency trades. With the remaining cash, he went on a lavish spending spree.
He spent $2.417 million on five Rolls-Royces and a Ferrari, $3.787 million on furniture and antiques—including $638,000 for two mattresses and $295,000 on luxury bedding—and $652,000 on watches and clothing. He also used $1.073 million to pay lawyers for his divorce and a lawsuit against Netflix, plus $1.787 million on credit card bills and $395,000 for stays at luxury hotels and rentals.
Rinsch never delivered a single episode. In 2021, Netflix canceled the project and later wrote off over $55 million in losses. Meanwhile, Rinsch sued Netflix, claiming they owed him $14 million more. An arbitrator ruled against him last year, ordering him to repay nearly $9 million to the company.
“Carl Rinsch allegedly stole more than $11 million from a prominent streaming platform to finance lavish purchases and personal investments instead of completing a promised television series,” said FBI Assistant Director Leslie Backschies. “The FBI will continue to reel in any individual who seeks to defraud businesses.”
“As alleged, Carl Erik Rinsch orchestrated a scheme to steal millions by soliciting a large investment from a video streaming service, claiming that money would be used to finance a television show that he was creating,” acting U.S. Attorney Matthew Podolsky stated. “But that was fiction.”
Rinsch faces serious charges: one count of wire fraud, one count of money laundering, and five counts of illegal monetary transactions. If convicted, he could spend decades in prison—up to 20 years for wire fraud, 20 years for money laundering, and 10 years per transaction count, totaling a possible 90 years if served back-to-back. Arrested in Los Angeles, he appeared before a judge on Tuesday. Netflix has stayed silent on the matter.
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