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Carl Erik Rinsch, the Hollywood filmmaker behind the unfinished sci-fi series White Horse, has been sentenced to 30 months in prison after being convicted of defrauding Netflix of $11 million allocated for the project’s production.
According to U.S. prosecutors, Netflix had already paid Rinsch $44 million for the series before approving an additional $11 million in 2020 after he claimed he needed more funding to complete the production.
Rather than using the money for the series, prosecutors said Rinsch diverted the funds into high-risk stock options and cryptocurrency investments, losing more than half of the amount within two months.
Investigators also revealed that he used the remaining funds to finance an extravagant lifestyle, spending millions of dollars on luxury furniture, antiques, credit card payments, expensive watches, five Rolls-Royce vehicles, and a Ferrari.
The television series was never completed, leading to Rinsch’s conviction on multiple charges, including wire fraud and money laundering. Alongside the 30-month prison sentence, the court ordered him to forfeit the full $11 million.
Ahead of the sentencing, actor Keanu Reeves, who previously collaborated with Rinsch on 47 Ronin, submitted a letter urging the court to show leniency. Reeves described Rinsch as a gifted filmmaker while acknowledging that justice should be served.
