American director Carl Rinsch is accused of defrauding Netflix of $11 million for cryptocurrency speculation.

According to Odaily Planet Daily, Carl Rinsch, director of "47 Ronin," has been accused by U.S. prosecutors of defrauding Netflix by allegedly misappropriating approximately $11 million in production funds for cryptocurrency speculation and luxury goods consumption.

Prosecutor documents show that Rinsch was commissioned by Netflix in 2018 to produce the science fiction series "Conquest" (originally titled "White Horse"). Between 2018 and 2020, Netflix paid its production company approximately $44 million in production fees. In 2020, Rinsch requested an additional $11 million from Netflix, citing insufficient project funding, but this money was not used for filming.

Prosecutors allege that Rinsch transferred the additional funds through multiple bank accounts, eventually concentrating them into a personal securities account for investment, where he lost more than half of the funds within two months. He then began speculating in cryptocurrencies and used the remaining funds to purchase luxury goods and cover personal expenses.

According to the indictment, Carl Rinsch will be sentenced on April 17, 2026, on charges including wire fraud, money laundering, and multiple counts of using proceeds of crime, which could carry a maximum sentence of 90 years in prison.