Filmmaker charged with defrauding Netflix of $11 million

Carl Erik Rinsch, a Hollywood filmmaker, has been charged with a scheme to defraud Netflix out of $11 million. This was announced by prosecutors from the Southern District of New York on Tuesday. Rinsch was hired by Netflix to produce a science-fiction series, but it was never completed. He received funding from Netflix between 2018 and early 2020. Instead of using the money for the series, he reportedly placed it in a personal brokerage account and traded securities. He has been charged with wire fraud, money laundering, and financial transactions linked to unlawful activities. Rinsch was arrested on Tuesday in West Hollywood, California. While the indictment does not name Netflix directly, the company has had disputes with Rinsch regarding his planned series. It was originally called "White Horse" and later renamed "Conquest." Last year, an arbitrator decided that Rinsch owed Netflix nearly $12 million in damages and legal fees.