Key facts
- Carl Rinsch sentenced to 30 months in prison for defrauding Netflix.
- Rinsch was convicted of wire fraud and money laundering.
- He diverted $11 million intended for a sci-fi series for personal use.
- Funds were used for luxury purchases and speculative investments, including Dogecoin.
- Rinsch must pay $11 million in restitution and forfeitures.
- Leniency was requested due to alleged mental health issues, supported by Keanu Reeves.
Hollywood director Carl Rinsch has been sentenced to 30 months in prison for defrauding Netflix of $11 million. Rinsch, who directed Keanu Reeves in "47 Ronin," received the sentence from U.S. District Judge Jed Rakoff, who also ordered three years of supervised release and $11 million in restitution and forfeitures. Netflix had paid Rinsch's production company over $44 million for a sci-fi series, and in 2020, Rinsch requested an additional $11 million to complete it. Prosecutors alleged that Rinsch instead moved most of the funds into a personal account, never delivering the show. He lost $5.9 million on speculative stock options before moving over $4 million into Dogecoin, which he later cashed out for nearly $27 million. This windfall funded a spending spree on luxury items, including cars and a watch. Rinsch's defense cited mental health issues, with supporters including Keanu Reeves requesting leniency. However, Judge Rakoff stated Rinsch was determined to lie for money, and U.S. Attorney Jay Clayton commented that the sentence sends a deterrent message.