Hollywood Director Sentenced to 30 Months for Using Netflix Funds on Dogecoin and Stocks

TLDR

• Director Carl Rinsch sentenced to 30 months for defrauding Netflix out of $11 million
• Money was meant to fund a sci-fi TV show called “White Horse” / “Conquest”
• Rinsch lost half the funds trading stock options, then moved the rest into Dogecoin
• His Dogecoin bet turned ~$4 million into ~$27 million, but courts said that didn’t matter
• He spent millions on Rolls-Royces, a Ferrari, furniture, and luxury goods

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Hollywood director Carl Rinsch has been sentenced to 30 months in prison for defrauding Netflix out of $11 million meant to fund a television series.

Director sentenced for production fraud: “Carl Erik Rinsch promised to make a television show,” said U.S. Attorney Jay Clayton. “Instead, he used $11 million meant for production as his personal casino and luxury fund.”https://t.co/5XHj1gWFyi

— US Attorney SDNY (@SDNYnews) June 29, 2026

A Manhattan federal court handed down the sentence on Monday. Rinsch, known for directing the 2013 Keanu Reeves film “47 Ronin,” was convicted in December 2025 after a one-week trial.

The case centered on a sci-fi streaming series called “White Horse,” later renamed “Conquest.” Netflix had already paid Rinsch around $44 million between 2018 and 2019 to produce the show.

In March 2020, Netflix wired an additional $11 million to help finish the production. Prosecutors say that money never went toward the show.

Instead, Rinsch moved the funds through multiple accounts into a personal brokerage account. He used $10.5 million to trade options tied to pharmaceutical companies and the S&P 500.

He lost more than half of that money in under two months.

Rinsch Went All In on Dogecoin

After the stock losses, Rinsch transferred more than $4 million in remaining funds to crypto exchange Kraken. He put it all into Dogecoin.

The bet paid off. When he sold his Dogecoin position in May 2021, he walked away with around $27 million.

Prosecutors argued the crypto gains did not change the nature of the crime. The funds had been obtained through false claims and used outside their agreed purpose.

The Dogecoin trade became one of the most talked-about parts of the case, but the court focused on how Rinsch got the money and what he used it for.

How the Money Was Spent

With his winnings, Rinsch spent around $10 million on personal expenses and luxury items.

That included $3.8 million on furniture and antiques, $2.4 million on five Rolls-Royces and a Ferrari, $1.8 million on credit card bills, $1 million on legal fees to sue Netflix, and $652,000 on watches and clothes.

He never finished the show. He never returned the funds.

U.S. Attorney Jay Clayton said in a statement that the sentence sends a clear message. “Fraud will not be tolerated,” he said.

Sentence Below What Prosecutors Asked For

Prosecutors had asked for five years. Rinsch’s defense sought no prison time, citing mental health issues. Friends, family, and even Keanu Reeves wrote to the court in support of Rinsch.

The judge sentenced him to 30 months, below the five years requested.

Rinsch was also ordered to serve three years of supervised release, pay $11 million in forfeiture, and $700 in mandatory special assessments.

He was convicted on one count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions derived from unlawful activity.

The case began with his arrest in March 2025 and ended with sentencing on July 1, 2026.