Wild Casino
- Director Rinsch apprehended over allegations of scamming Netflix out of millions.
- Funds allocated for 'White Horse' now known as 'Conquest' were reportedly redirected to personal endeavors.
- Rinsch plunged into risky stocks, losing $5.5 million while splurging on luxury cars and furniture.
- Netflix previously invested $44 million in Rinsch's show, which never saw completion.
- The filmmaker may face up to 20 years in prison due to wire fraud and money laundering accusations.
In March 2025, federal agents detained Carl Erik Rinsch for allegedly misappropriating Netflix funds intended for a TV series, charging him with fraud and laundering money.
According to allegations, Rinsch funneled $10.5 million into his own trading account instead of investing in the series 'White Horse,' gambling with extremely uncertain trades.
The 47-year-old director gambled on the stock market without success, losing over half the funds on biotech company options shortly after receiving Netflix's money.
Despite stock losses, Rinsch profited from cryptocurrency dealings, reportedly netting millions in February 2021.
He allegedly indulged in high-end purchases including furniture, multiple luxurious cars, and designer watches and clothing.
Wild Casino It is reported that Rinsch also expended $1.8 million addressing credit charges and legal costs relevant to a Netflix lawsuit and his divorce.
The series involved was marred by dilemmas, as Netflix initially provided $44 million and followed up with another $11 million in early 2020.
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While claiming 'Conquest' was progressing smoothly, Rinsch was irresponsibly risking Netflix’s money. The project was scrapped in early 2021 when his conduct alarmed the platform.
The New York Times first highlighted the clash between Rinsch and Netflix in late 2023, citing that Netflix secured the project despite Rinsch’s obscure reputation.
His prior directing experience was limited to '47 Ronin', and the sci-fi series pitched to Netflix explored the concept of artificial humans.
The indictment didn’t directly mention Netflix, referring instead to 'a streaming subscription service.'
Handling the case is the Complex Frauds and Cybercrime Unit, with acting U.S. Attorney Matthew Podolsky emphasizing their continued vigilance against fraud.
FBI's Leslie Backschies declared ongoing efforts to apprehend those conning businesses, with investigations uncovering Rinsch’s misuse of funds.
Prosecutors noted Rinsch’s lavish acquisitions like two extravagant mattresses and luxurious bedding, alongside costly hotel and rental charges.
Severe repercussions await Rinsch with wire fraud and laundering charges carrying potential sentences of 20 years each, atop further charges.
Previously, an arbitrator resolved that Netflix be compensated $8.8 million after Rinsch claimed contract breaches, but his expenses were deemed unnecessary.
Annie Carney, Rinsch's lawyer, remained silent when probed for comments, as did Netflix officials after indictment revelations.
New York federal court Judge Jed Rakoff is handling the case. Rinsch was apprehended in West Hollywood and faced court the same day.
