NEW YORK—A Hollywood writer-director was arrested Tuesday on charges that he swindled $11 million from Netflix for a sci-fi show that never aired, instead steering the cash toward cryptocurrency investments and a series of lavish purchases that included a fleet of Rolls-Royces and a Ferrari.
Carl Erik Rinsch—perhaps best known for directing the film “47 Ronin”—has been charged with wire fraud and money laundering over what federal prosecutors allege was a scheme to defraud the streaming giant.
Prosecutors said Netflix had initially paid about $44 million to purchase an unfinished show called “White Horse” from Rinsch, but eventually doled out another $11 million after he said he needed the additional cash to complete the show….