Hollywood’s Wildest Heist: Director Blows $11M Netflix Cash on Crypto and Cushy Mattresses!

Carl Erik Rinsch, the Hollywood director known for "47 Ronin," was arrested on March 18, 2025, accused of defrauding Netflix out of $11 million. The funds, intended for his uncompleted sci-fi series "White Horse," were allegedly diverted into a personal spending spree that has stunned the industry.

Federal prosecutors claim Rinsch transferred the money to a brokerage account, losing over $5.5 million in risky securities trades within two months. He then invested $4 million in cryptocurrency, including Dogecoin, turning it into nearly $27 million. With his windfall, Rinsch splurged on luxury items: five Rolls-Royces, a Ferrari, high-end watches, clothing, and two mattresses costing $638,000 each. He even spent $1 million on lawyers to sue Netflix for more funds.

Charged with wire fraud, money laundering, and related counts, Rinsch faces up to 90 years in prison if convicted. An arbitrator previously ordered him to repay Netflix $8.8 million in damages. The scandal, unfolding amid Hollywood’s streaming boom, raises questions about financial oversight in the industry, leaving insiders and fans reeling from the audacious tale of excess.