Duh Dumb! In a plot twist wilder than any Hollywood script, 47 Ronin director Carl Rinsch has been arrested on charges of fraud and money laundering after allegedly misusing millions in Netflix funding meant for his sci-fi series White Horse.
From Big Budget to Big Trouble
Rinsch secured a deal with Netflix (referred to in court documents as “Streaming Company-1”) for an estimated $61 million to produce White Horse, a dystopian series about a group of super-intelligent clones. The project, however, never saw the light of day. Instead, Rinsch allegedly burned through $44 million before demanding another $11 million—claiming he needed it to complete production.
Rather than using the funds to finish the show, authorities say he funneled the money into high-risk stock trading, promptly losing $5.9 million before pivoting to cryptocurrency. His gamble on Dogecoin—the meme-inspired crypto—miraculously turned $4 million into $27 million, but instead of reinvesting in White Horse, Rinsch went on a spending spree fit for a blockbuster villain.
Luxury Over Labor
According to the indictment unsealed by the U.S. Attorney’s Office for the Southern District of New York, Rinsch allegedly used Netflix’s money on:
🔹 $1.78 million in credit card bills
🔹 $1.07 million in legal fees (including suing Netflix for more money)
🔹 $395,000 on luxury hotels, including the Four Seasons
🔹 $3.78 million on furniture and antiques
🔹 $638,000 on two mattresses (!?)
🔹 $295,000 on high-end bedding
🔹 $2.41 million on five Rolls-Royces and a Ferrari
🔹 $652,000 on watches and designer clothing
Despite all this, White Horse was never completed, leaving Netflix with a $55 million write-off.
Photo: Still from White Horse.
Netflix Strikes Back
When Netflix took Rinsch to arbitration over the missing funds, he countered by claiming the company actually owed him $14 million in damages. However, Netflix won a $12 million arbitration ruling against him. Rinsch never paid up.
Now, real-world consequences are catching up with the filmmaker. The FBI arrested Rinsch in Los Angeles on charges of wire fraud, money laundering, and engaging in unlawful financial transactions. If convicted, he faces up to 20 years in prison for wire fraud alone, plus additional time for the other charges.
A Hollywood Reckoning?
The case highlights the lack of oversight in Hollywood’s big-budget deals, with streaming services pouring millions into projects with little accountability. FBI Assistant Director Leslie Backschies stated, “The FBI will continue to reel in any individual who seeks to defraud businesses.”
As for White Horse? The sci-fi series may never see the light of day, but Rinsch’s real-life drama is playing out in a courtroom near you.
Photo by cottonbro studio.
