'47 Ronin' director found guilty of $11 million in cryptocurrency speculation funded by Netflix

According to DL News, Carl Erik Rinsch, director of the Hollywood film "47 Ronin," has been convicted of using $11 million he received from Netflix for cryptocurrency and high-risk investments. According to the U.S. Department of Justice, Rinsch received additional funds under the guise of producing the sci-fi drama "White Horse," then transferred them to his personal account and invested them in speculative securities and cryptocurrencies. The New York Times reported that some of these cryptocurrency investments generated profits in 2021, and evidence of his purchase of Dogecoin (DOGE) was also confirmed. Rinsch used the funds to purchase five Rolls-Royces, a Ferrari, luxury goods, and divorce proceedings. Prosecutors pointed out that he "squandered the production funds on stock options and cryptocurrency gambling." Rinsch is scheduled to be sentenced in April 2026 on seven charges, including wire fraud and money laundering.