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Hollywood director Carl Erik Rinsch has been arrested on charges of defrauding Netflix for a sci-fi project that never materialized, embezzling $11 million for cryptocurrency investments and luxury purchases, including a Rolls-Royce and a Ferrari.
According to CNN, Netflix initially paid about $44 million for a show called "White Horse," but Rinsch demanded an additional $11 million, claiming he needed it to finish production. Instead of using it for that purpose, he transferred the money to a personal account on the network for investments.
Netflix has not commented on the arrest, and it remains unclear whether Rinsch has hired a lawyer. The incident has rocked the entertainment industry, raising questions about the management of funds on major film projects.
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