Director of '47 Ronin' convicted for using $11M from Netflix on crypto speculation

Hollywood director Carl Erik Rinsch, known for the film '47 Ronin,' has been convicted of misusing $11 million in funds from Netflix for cryptocurrency and other high-risk investments, DL News reported. According to the U.S. Department of Justice, Rinsch received the funds for the production of a sci-fi drama, 'White Horse,' but transferred the money to his personal account for speculative investments in securities and crypto. The New York Times reported that Rinsch profited from some of his crypto investments in 2021 and was confirmed to have purchased Dogecoin (DOGE). The funds were also used to buy five Rolls-Royces, a Ferrari, luxury goods, and to cover divorce legal fees. Prosecutors stated that Rinsch squandered the production budget on stock options and cryptocurrency gambling. He was convicted on seven counts, including wire fraud and money laundering, with sentencing scheduled for April 2026.