Director Carl Erik Rinsch Arrested For Spending $11 Million Netflix Budget On Cars, Luxury And Crypto
The court found that Carl Erik Rinsch took the money meant for the White Horse from Netflix and placed it in his account, rather than using it to finish the series.
Netflix bought an unfinished series called White Horse from Carl Erik Rinsch for $44 million, with an extra $11 million promised to help finish the show. However, the series was never completed and Rinsch was recently arrested in West Hollywood, California after he placed that money in his account, rather than using it to finish the series. He is now facing charges of wire fraud, money laundering and using money from unlawful activities. The streaming giant had secured the rights to the series by offering more money than Amazon, despite Rinsch’s only previous film was Keanu Reeves starrer 47 Ronin.
As per the court document, Rinsch spent around $1.8 million on credit card bills, $1 million on legal fees to sue Netflix and for his divorce, and around $395,000 to stay at the Four Seasons hotel and other properties. He also purchased $3.8 million worth of furniture and antiques, along with two mattresses for $638,000 and luxury bedding and linens for $295,000. The filmmaker further spent around $2.4 million on five Rolls Royce and one Ferrari and about $652,000 went towards watches and clothing.
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While Carl Erik Rinsch was losing most of the $11 million meant for White Horse, he falsely assured Netflix that the project was “awesome and moving forward really well." He did not reveal that he had lost a large portion of the streaming company’s money. These messages were allegedly sent to make Netflix believe that everything was going as planned and to prevent them from thinking anything was wrong. Even after most of the money was gone, Rinsch did not use the remaining funds for the series. Between February and May 2021, he transferred almost all of it into a cryptocurrency account under his name, “which eventually proved profitable."
According to the Associated Press, Rinsch was present in a federal court in Los Angeles but did not submit a plea. He only spoke when judge’s asked anything. Rinsch mentioned that he hadn’t read the entire indictment, but confirmed that he understood the charges. US Magistrate Judge Pedro V Castillo approved his release after he agreed to pay a $100,000 bond as a guarantee that he’ll attend his court hearing in New York in the later date.
White Horse was supposed to be a science fiction show about a scientist who made a group of highly intelligent clones. These clones were sent away to a restricted area in Brazil. While living there, they started creating advanced technology, which led to tensions between them and the humans. The title refers to the four horsemen of the apocalypse, known for riding a white horse.
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