Not a lot of people may know who Carl Rinsch is. But mention 47 Ronin, the film that arguably wasted the talents of Keanu Reeves and Hiroyuki Sanada, and more people will recognize Rinsch as the man behind the critically and commercially unsuccessful movie. According to his IMDb profile, the historical fantasy action film is his only full-length directorial credit. So, for Netflix to invest in a sci-fi series with him at the helm, was a significant risk.
What Carl Rinsch Allegedly Did with Netflix’s $11M
Variety reported that Rinsch pleaded not guilty to charges of fraud and money laundering. Prosecutors alleged the director defrauded Netflix of $11 million intended for the production of a sci-fi series titled Conquest, formerly White Horse, which was never completed.
So, what did Rinsch allegedly do with the money?
It was spent on cars, luxury goods (a $28,000 sofa and $650,300 worth of mattresses, and an investment gamble on cryptocurrency and the stock market.
According to a press release from Matthew Podolsky, the Acting United States Attorney for the Southern District of New York, “As alleged, Carl Erik Rinsch orchestrated a scheme to steal millions by soliciting a large investment from a video streaming service, claiming that money would be used to finance a television show that he was creating. But that was fiction.”
The statement also mentioned that Rinsch “allegedly used the funds on personal expenses and investments, including highly speculative options and cryptocurrency trading.”
FBI Assistant Director Leslie Backschies also said: “Carl Rinsch allegedly stole more than $11 million from a prominent streaming platform to finance lavish purchases and personal investments instead of completing a promised television series.” Backschies promised that the “FBI will continue to reel in any individual who seeks to defraud businesses.”
What is the Premise of Conquest?
According to MovieWeb, reports have described the series as a “Blade Runner-esque,” with machines turning on their human masters, similar to HBO’s Westworld. The streaming platform is eager to have another hit on its hands like Stranger Things.
However, a Netflix representative told the New York Times in 2023 when they initially investigated and reported on the project that “after a lot of time and effort, it became clear that Mr. Rinsch was never going to complete the project he agreed to make, and so we wrote the project off.”
Rinsch is currently out on a $100,000 bond, and a trial date is set for September 8.
