’47 Ronin’ director convicted of defrauding Netflix out of $11 million meant for TV show

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Carl Erik Rinsch, the director of the 2013 Keanu Reeves movie “47 Ronin,” was found guilty of fraud on Thursday for taking $11 million from Netflix.

Jed S. Rakoff, a U.S. District Judge, convicted Rinsch of wire fraud, money laundering, and related crimes, according to the U.S. Attorney’s Office for the Southern District of New York. Rinsch’s lawyer, Benjamin Zeman, criticized the decision in a statement released on Friday.

Zeman believes the court reached the wrong decision, and he’s worried it could create a problematic situation for artists facing contract or creative disagreements with those who fund their work. He specifically fears this could happen to artists facing legal charges brought by the government, especially when dealing with large media corporations.

Movies

I was shocked to hear about Carl Rinsch. Apparently, he’s accused of taking $11 million from Netflix for a show that, sadly, never actually got made. I understand he was arrested in West Hollywood, and now he’s going to be tried in New York. It’s a really disappointing situation, especially for anyone who was looking forward to seeing his work.

A representative for Netflix did not comment on Rinsch’s conviction.

According to federal prosecutors, $11 million intended to complete a TV series—which had already received $44 million in funding—was misused. Instead of going towards the show, the money was allegedly diverted to the director’s personal accounts, spending, and investments. The director, age 48, quickly moved the $11 million—originally deposited by Netflix on March 6, 2020—through several accounts, ultimately landing about $10.5 million in a personal brokerage account. The indictment claims he then lost over half of this money in less than two months through high-risk stock market investments.

Despite telling the streamer his sci-fi show, “White Horse,” was progressing successfully, Rinsch is accused of transferring the remaining funds into cryptocurrency and then profiting from crypto trading. He allegedly spent approximately $10 million on luxury items like five Rolls-Royces and a Ferrari, as well as watches, clothes, high-end bedding, credit card payments, and legal fees – including lawyers to sue Netflix and handle his divorce.

Television

Jen Shah, who used to be on ‘The Real Housewives of Salt Lake City,’ has been transferred from prison to a community confinement program. This move comes after she served less than half of her sentence for defrauding many people.

The charges allege that around $3.8 million was used to purchase furniture and antiques, with just two mattresses costing a total of $638,000. Additionally, approximately $2.4 million was spent on six vehicles.

In March, Rinsch was arrested in West Hollywood but was released after posting a $100,000 bond. This ensures he will appear in federal court in New York as required.

According to U.S. Attorney Jay Clayton, Carl Erik Rinsch misused $11 million intended for a television program by gambling it on risky stock and cryptocurrency investments. Clayton stated that the conviction demonstrates a commitment to pursuing and holding accountable those who steal from investors.

Rinsch never finished the show. His sentencing is set for April.

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2025-12-12 23:31