'47 Ronin' director arrested on suspicion of bilking Netflix to the tune of $11 million

Carl Erik Rinsch, a manager champion known for helming the 2013 movie “47 Ronin,” was arrested Tuesday successful West Hollywood connected suspicion of defrauding Netflix to the tune of $11 million.

The money, which was expected to spell toward finishing a TV amusement successful which $44 cardinal had already been invested, alternatively went into Rinsch’s idiosyncratic accounts, his idiosyncratic spending and his idiosyncratic gains and losses, according to a national tribunal indictment filed earlier this period successful the Southern District of New York.

Rinsch “quickly transferred” the $11 cardinal from the Rinsch Co. account, wherever it had been deposited March 6, 2020, by Netflix, done a fig of further accounts until astir $10.5 cardinal coiled up weeks aboriginal successful a idiosyncratic brokerage account, according to the indictment. The manager proceeded to suffer much than fractional of that wealth successful little than 2 months via risky investments successful the banal market, the indictment says.

All the while, the indictment alleges, Rinsch was telling Netflix that the amusement “White Horse” was “awesome and moving guardant truly well.”

Over the adjacent mates of years, the manager allegedly moved the remaining wealth into cryptocurrency and yet profited from crypto speculation. He past blew astir $10 million, the indictment says, connected 5 Rolls-Royces, a Ferrari, watches, clothing, luxury bedding and linens, recognition paper bills and attorneys to writer Netflix for much wealth and to enactment connected his divorce. About $3.8 cardinal was spent connected furnishings and antiques, including 2 mattresses that outgo $638,000 total, the papers said. The half-dozen cars outgo a small implicit $2.4 million.

“White Horse” was expected to beryllium a sci-fi bid astir superintelligent clones who get banished to Brazil, wherever they make their ain precocious exertion and travel into struggle “with humans and each other,” the indictment says. The amusement was ne'er completed.

Rinsch, 47, was arrested Tuesday successful West Hollywood and appeared aboriginal successful national tribunal wearing shackles and a turtleneck sweater implicit jeans. He was released aboriginal successful the time aft agreeing to station a $100,000 enslaved to warrant his quality successful a New York national court. He was not asked to participate a plea.

He has been indicted connected 1 number of ligament fraud, 2 counts of wealth laundering and 4 counts of engaging successful monetary transactions related to amerciable activity.

A tribunal day had not yet been assigned.

The Associated Press contributed to this report.