Filmmaker Convicted of Defrauding Netflix of $11 Million

A federal jury in Manhattan convicted filmmaker Carl Erik Rinsch on Thursday of defrauding Netflix out of $11 million intended for a science fiction television series that was never completed. The director, known for helming the 2013 action film 47 Ronin starring Keanu Reeves, faces up to 90 years in prison on charges including wire fraud, money laundering, and five counts of engaging in monetary transactions involving property derived from unlawful activity.

Prosecutors from the U.S. Attorney's Office for the Southern District of New York alleged that Rinsch, 49, orchestrated a scheme to misuse funds provided by the streaming service. In 2018, Netflix entered an agreement with Rinsch's production company to develop the series, initially titled White Horse and later renamed Conquest, which centered on a scientist creating a humanlike species that rebels against its creators. The company transferred approximately $44 million to Rinsch's company between 2018 and 2019 for production. In early 2020, Rinsch requested additional funding, claiming it was needed to finish the project. On March 6, 2020, Netflix wired $11 million to his company account.