Hollywood director Carl Erik Rinsch was sentenced to two and a half years in federal prison after admitting to defrauding Netflix of $11 million intended to complete a science fiction television series.
Federal prosecutors said Rinsch diverted the production budget to his personal account instead of using it to finish the project. According to prosecutors, he lost nearly half of the money through unsuccessful investments, while the remaining funds were used to buy cryptocurrency, Rolls-Royce luxury cars and expensive mattresses.
In addition to the prison sentence, the court ordered Rinsch to pay $11 million.
Rinsch could have faced up to 90 years in prison. However, the court imposed a lighter sentence after he pleaded guilty and apologized during the proceedings.
The case centered on production funds provided by Netflix for the unfinished sci-fi series. Prosecutors argued that the money was used for personal expenses rather than the intended production, leading to the federal fraud case against the director.
