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Director Accused of Blowing $11 Million Meant for Netflix Show on Crypto, Mattresses

Director Carl Erik Rinsch was arrested on accusations that he spent $11 million meant for his Netflix show 'White Horse' on luxury items and stocks.

A director of a would-be Netflix series has been arrested on fraud charges for allegedly blowing through $11 million meant for the show, accused of spending the money on failed stocks, cryptocurrency, expensive cars, and two mattresses that totaled $600,000. Rinsch is accused of orchestrating “a scheme to steal millions by soliciting a large investment from a video streaming service, claiming that money would be used to finance a television show that he was creating — but that was fiction,” Acting U.S. Attorney Matthew Podolsky said in a statement announcing the director’s arrest. The New York Times published a report on the bizarre unraveling of the show White Horse(later renamed Conquest) in November 2023, finding that despite Netflix pouring $55 million into Rinsch’s project, the director never delivered a single episode.

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