Carl Erik Rinsch, the director behind the 2013 Keanu Reeves vehicle 47 Ronin, has been sentenced to 30 months in federal prison for defrauding Netflix of $11 million. The funds were earmarked for a sci-fi series called “White Horse” that never materialized. Instead, Rinsch funneled the money into Dogecoin trades and a lifestyle that would make a Dubai influencer blush.
The sentence, handed down on June 29, 2026, also includes three years of supervised release and full restitution of $11 million to Netflix, plus a $700 fine.
From production budget to Dogecoin portfolio
Netflix reportedly advanced more than $55 million for the “White Horse” project between 2018 and 2020. Rinsch took at least $11 million of that and went on what prosecutors described as a spending spree that mixed speculative crypto trading with extravagant personal purchases.
In 2020, Rinsch reportedly poured millions into Dogecoin. At some point he realized profits of around $23 million. But instead of returning the money to Netflix or actually producing the show, Rinsch went shopping.
