Hollywood director Carl Erik Rinsch was sentenced to two and a half years in prison for defrauding Netflix of $11 million that were allocated for the production of a science fiction series. This was reported by the BBC, writes UNN.
Details
The 48-year-old director, best known for the film "47 Ronin," was found guilty of federal fraud and money laundering. In addition to the prison term, Judge Jay Rakoff sentenced him to three years of supervised release, forfeiture of $11 million in assets, and a fine of $700.
Before the sentencing, Rinsch apologized to the court and stated that he accepts responsibility for his actions.
Today's sentence is a deterrent signal: fraud will not be tolerated
Spent the funds for the series on cryptocurrency and luxury items
According to the prosecution, Netflix allocated a total of about $55 million to the director for the production of a science fiction series, which was originally titled "White Horse." Of this amount, $11 million was provided after Rinsch stated that it was necessary to complete the project.
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Prosecutors allege that the director transferred these funds to a personal account, lost part of them during investing, and spent the rest on cryptocurrency and luxury items, including Rolls-Royce cars and expensive mattresses.
During the trial, Netflix executives stated that the company ordered only one season of the series, which was never completed. Rinsch himself insisted that the funds were intended to support production during the COVID-19 pandemic and called the situation a misunderstanding.
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