Carl Erik Rinsch, the director of "47 Ronin," was sentenced to 30 months in prison on Monday for stealing $11 million from a streaming company, which he had told the firm he needed to complete a science-fiction series, before funneling the money into stock options, cryptocurrency speculation, and personal luxury purchases, the Department of Justice said.
Rinsch was convicted in December following a week-long trial before U.S. District Judge Jed Rakoff on charges including wire fraud and money laundering. The Block reported on Rinsch's arrest in March 2025, when he was first charged with defrauding the streaming service.
Netflix was the streaming service involved in the case, according to multiple reports from outlets like AP News, though the DOJ's press release refers to it only as "Streaming Company-1."
The company had paid Rinsch approximately $44 million between 2018 and 2019 for the unfinished show, titled "White Horse," before agreeing to provide an additional $11 million in March 2020 after Rinsch said he needed more funding to finish production, according to the DOJ.
Instead of spending the money on the show, Rinsch moved the funds through multiple bank accounts before consolidating them into a personal brokerage account, where he speculated on stock options.
