In a case that has sent shockwaves through Hollywood and the global entertainment industry, director Carl Erik Rinsch has been arrested on charges of swindling Netflix out of $11 million (approximately Tk 121 crore) for a sci-fi series that never aired.

Rinsch, who is best known for directing the 2013 film 47 Ronin, is facing charges of wire fraud and money laundering after allegedly misusing the funds meant for his unfinished show White Horse.

The Allegations

According to U.S. federal prosecutors, Netflix had initially paid around $44 million (Tk 484 crore) for the project. However, Rinsch later requested an additional $11 million (Tk 121 crore), claiming he needed the funds to complete the series. Instead of using the money for production, prosecutors allege that Rinsch diverted the funds into high-risk investments and luxury spending.

Court documents reveal that Rinsch transferred a significant portion of the money into a personal brokerage account, where he made a series of unsuccessful investments, losing about half of the funds within two months. He then shifted the remaining amount into cryptocurrency investments, which turned out to be lucrative. However, rather than reinvesting in the production, Rinsch allegedly transferred the earnings into a personal bank account and embarked on an extravagant spending spree.

Lavish Spending Spree

The indictment details Rinsch’s alleged misuse of funds, including:

·         Tk 19.8 crore ($1.8 million) in credit card payments,

·         Tk 11 crore ($1 million) on legal fees to sue Netflix for more money,

·         Tk 40.7 crore ($3.7 million) on luxury furniture and antiques,

·         Tk 26.4 crore ($2.4 million) on a fleet of Rolls-Royces and a Ferrari,

·         Tk 7.2 crore ($652,000) on designer watches and clothing.

Authorities arrested the 47-year-old filmmaker in West Hollywood on Tuesday. He is expected to appear in a federal court in California, while his indictment was filed in New York.

Netflix’s Response

Netflix has declined to comment on the allegations. However, the case has raised concerns over financial oversight and due diligence in Hollywood’s high-stakes entertainment industry.