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Hollywood writer and director Carl Erik Rinsch was arrested for allegedly cheating Netflix of $ 11 million.
Rinsch was arrested at West Hollywood, California, Tuesday for wire frauds and money laundering charges for allegedly conducting a scheme for frauding a streaming service, according to Associated Press.
Is charged with spending money on Cryptocurrency investmentsRolls-Royces and Ferrari.
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Court of Carl Erik Rinsch was arrested on Tuesday for allegedly breaking a Netflix of $ 11 million. (John Sciulli/Getty Images for Team One, Satchi La)
Prosecutors said Netflix initially paid $ 44 million for his unfinished show, “White Horse”, but the director asked for an additional $ 11 million to complete it.
Rinsch allegedly transferred $ 11 million to his personal accounts and invested investments that lost half in two months, according to prosecutors.
The indictment has shown that Rinsch has transferred the remaining money from Netflix in the amount of $ 11 million to the cryptocurrency market, which brought him a profit, which he then transferred to his personal account.
Netflix allegedly gave Carl Eric Rinsch $ 11 million to complete the unfinished science fantastic show he spent on personal costs. (Jakub Porzycki/Nurphoto via Getty Images)
Prosecutors stated that Rinsch spent $ 10 million on personal items including $ 1.8 million on credit card accounts, $ 1 million for lawyers for lawsuit Streaming service For “more money”, $ 3.8 million on furniture and antiques, $ 2.4 million for five rolls and one Ferrari and finally, $ 652,000 on watches and clothing.
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Rinsch was in a court in a turtle sweater and jeans with leaks on his hands and ankles on Tuesday. The US Master Judge Pedro V. Castillo agreed to release Rinsch on Tuesday to a $ 100,000 bond.
Carl Erik Rinsch was released on Tuesday at $ 100,000. (John Sciulli/Getty Images for Team One, Satchi La)
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Annie Carney, Rincsh’s lawyer, said during the hearing that the charges against her client were “purely financial” and refused to comment on the courtroom.
Rinschovo’s next court hearing in New York, where the indictment was filed, does not have a certain date.
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Associated Press contributed to this report.
