🔗 Share this article Hollywood Director Found Responsible of Scamming Platform Netflix Out of Millions for Non-Existent Show A well-known film director was found guilty on Thursday for orchestrating a scheme that defrauded the streaming service Netflix out of an astonishing $11 million earmarked for a show that never materialized, prosecutors stated. Details of the Case Carl Rinsch, best known for helming the movie *47 Ronin* featuring the actor Keanu Reeves, was found guilty on multiple counts including financial fraud and money laundering, according to legal documents and federal prosecutors in New York. "This verdict shows that if an individual takes money from investors, we will follow the money and hold them accountable," stated the prosecutor. Reported Fraudulent Plan Prosecutors alleged that Netflix had initially paid Rinsch approximately $44 million for an unfinished science-fiction series titled *White Horse*. Later, the company provided an further payment after he asserted he required extra capital to finalize the project. However, instead of allocating the funds for the series, Rinsch diverted the capital to a private bank account. From there, he made a string of unsuccessful investments, losing roughly 50% of the multi-million dollar sum within a couple of months, according to the case. Extravagant Purchases with Studio Funds Following the market losses, Rinsch allegedly placed the remaining funds into the cryptocurrency market, netting some profit. However, he then deposited those funds into his personal bank account. What followed next involved major high-end expenditures. Prosecutors detailed purchases that included: 5 Rolls-Royce automobiles and a sports car. More than $652,000 on designer watches and apparel. A pair of custom mattresses for around six hundred and thirty-eight thousand dollars. A further two hundred and ninety-five thousand dollars on high-end linens and household items. Furthermore, he allegedly used some of the money to pay off about one point eight million dollars in credit card balances. Legal Reaction and Sentencing In a comment, Rinsch's attorney voiced dismay with the verdict, suggesting it "could set a dangerous precedent for creatives who become involved in business and artistic disagreements with their benefactors." Rinsch, forty-eight, never completed the show. His sentencing date is set for April. The streaming platform declined to issue a statement on the conviction.