$11 Million to Be Paid Back After Netflix Director Put in Handcuffs for Fraud.
$11 Million to Be Paid Back After Netflix Director Put in Handcuffs for Fraud.
(The Americas)
The news as it trends.
Carl Erik Rinsch, director of 47 Ronin, has been arrested for allegedly defrauding Netflix out of $11 million meant for a sci-fi series called White Horse.
Instead of completing the project, Rinsch invested the funds in cryptocurrency and luxury purchases, including Rolls-Royces and a Ferrari.
Prosecutors claim he lost half of the money in failed investments before spending the rest on personal expenses.
The case, as it trends on social media, has sparked debates on financial accountability in Hollywood, with many questioning how such fraud went undetected for so long.
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