Carl Rinsch: When 55 million from Netflix turned to dust in cryptocurrencies

Director Carl Rinsch is at the center of a billion-dollar scandal exposing how film funds can vanish in crypto speculation. Accused of defrauding Netflix, Rinsch received massive funds to produce the science fiction series ‘Conquest’ ( formerly called ‘White Horse’), but converted millions into high-risk investments.

The numbers that speak for themselves

Netflix trusted Rinsch’s production company, releasing $44 million between 2018 and 2020 to finance the ambitious project. When the director requested more $11 million in 2020 to complete the series, no one suspected what was to come next.

Prosecutors revealed that Rinsch diverted funds through multiple bank accounts, consolidating everything into a personal securities account. Here’s the absurd part: in just two months, he lost more than $5.5 million in stock market investments.

From the market to cryptocurrencies

With half of the money already volatilized, Carl Rinsch didn’t stop. On the contrary, he escalated his bets: he began to aggressively speculate in cryptocurrencies while simultaneously funding a luxurious lifestyle with expensive goods and personal expenses. It was the perfect combination for financial disaster.

The sentence to come

Scheduled for sentencing on April 17, 2026, Rinsch faces severe consequences: up to 20 years for electronic fraud, 20 years for money laundering, and 10 years for each of the five charges of using criminal proceeds. In total, he could serve up to 90 years in prison.

This case of the 48-year-old director is a visceral reminder: not even Hollywood directors escape the traps of irresponsible speculation in cryptocurrencies and high-risk investments.