Netflix Director Accused of Blowing $11M on Crypto and Mattresses

By Ouinex

A Hollywood director behind a planned Netflix series has been arrested after allegedly misusing $11 million of production funds to splash out on luxury items, including cryptocurrency and high-end mattresses.

Carl Erik Rinsch, renowned for his 2013 film 47 Ronin, obtained millions from Netflix to develop White Horse, an unrealised dystopian sci-fi series. Instead, US authorities claim, the funds were funnelled into extravagant purchases—including a frenzy of crypto investments.

According to reports, Rinsch allegedly sank millions into digital currencies, hoping to multiply his investment, but ultimately lost a significant portion as market conditions turned against him. The director is also accused of purchasing designer furniture, extravagant home décor, and even custom-made mattresses.

Netflix initially backed the ambitious project, but later withdrew its support, citing creative differences and budgetary concerns. Now, the case has taken a dramatic turn, with legal proceedings underway.

Industry insiders say this scandal underscores growing concerns over financial mismanagement in Hollywood, particularly amid the entertainment sector’s increasing flirtation with crypto. As for Rinsch, he now faces a legal battle that could rival the drama of any blockbuster.

Meta Title: Netflix Director Accused of Blowing $11M on Crypto
Meta Description: Director Carl Erik Rinsch allegedly misused $11M meant for a Netflix series on luxury items and crypto. Now, he faces legal action.