In Russia
⚖️ Director Convicted of Defrauding Netflix
In the United States, director Carl Erik Rinsch, hired by Netflix to create the science-fiction series Conquest, has been convicted of fraud totaling $11 million.
Prosecutors found that between 2018 and 2020, Rinsch received production funds from Netflix but instead deposited $11 million into his personal brokerage account and used the money for securities trading.
Netflix shut down development of the project in early 2021. After funding was cut, Rinsch spent the remaining production money on personal expenses, including the purchase of five Rolls-Royces and a Ferrari, cryptocurrency, and stays at luxury hotels in California and Spain.
Rinsch did not produce a single episode of the series. Netflix was forced to write off $55 million spent on the project.
The director was arrested in March and found guilty of wire fraud, money laundering, and engaging in monetary transactions involving illegally obtained funds.
