On March 18, 2025, Carl Rinsch, the director of the 2013 film “47 Ronin,” starring Keanu Reeves, was arrested in West Hollywood on charges of fraud and money laundering. He was accused of embezzling $11 million from Netflix, money that was supposed to be used for the sci-fi series “White Horse,” but instead was funneled into crypto speculation and luxury purchases. With a potential 90-year prison sentence, the case revealed a terrifying dark side of Hollywood and the cryptocurrency market. What happened?


Netflix Scam: From Series to Crypto

According to the indictment, in 2020, Rinsch asked for additional funding from #Netflix to complete “White Horse” after his production company received $44 million. However, instead of investing in the project, he transferred the money to his personal account and embarked on risky investments. Matthew Podolsky, acting U.S. Attorney, asserted: “Rinsch concocted an elaborate scheme to steal millions of dollars under the pretext of needing the money for a series. But that was just fiction.”


By the end of April 2020, he had lost more than half of his money through speculative “high-risk options,” crypto trading, and an ETF that tracked the S&P 500. However, the indictment also notes that Rinsch profited from crypto—specifically with $DOGE . His 2023 filing reveals that he turned $4 million in Dogecoin into $27 million in May 2021, using the Kraken exchange with money from Schwab Bank.


Luxury Spending: $11 Million “Disappears”

The crypto profits were not used for the “White Horse.” Instead, Rinsch spent lavishly:



  • 2.4 million USD to buy 5 Rolls-Royce and 1 Ferrari.


  • $3.7 million in furniture and antiques.


  • $652,000 on watches, clothes.


  • $638,000 for two mattresses, plus $295,000 for luxury bedding.



In addition, he spent $1.1 million to hire lawyers to sue Netflix for more money and to file for divorce. Despite completing the “six mini-episodes,” Rinsch did not deliver the product to Netflix or refund the money.


Legal Consequences: 90 Years in Suspended Prison

Rinsch faces several serious charges:


  • Wire fraud: Up to 20 years in prison.

  • Money laundering: Add 20 years.

  • 5 crimes of illegal property transactions: Each crime is up to 10 years.



If convicted of all charges, he could face up to 90 years in prison—a devastating end for the once-famous director. The arrest came as $BTC fell 3% to $81,967 (March 18), fueling concerns about the misuse of cryptocurrencies in illegal activities.


Impact on Crypto and Netflix


  • Crypto: The incident raises questions about transparency in crypto trading. Dogecoin (~$0.15, March 18) may suffer a reputational hit, though its price has not seen much movement. Investors fear that scandals like this will spur stricter regulation.


  • Netflix: Losing $11 million and not getting a series is a costly lesson. Netflix may increase financial control over production partners in the future.


  • Market: The intersection of Hollywood and crypto shows that digital assets are not only an opportunity but also a huge risk if abused.



Conclusion: Crypto: Savior or Pitfall?

Carl Rinsch turned Netflix’s $11 million into a luxury empire with crypto, but the price is fraud charges and a possible 90-year prison sentence. From talented director to financial criminal, his story is a warning about the dangers of exploiting digital assets. As gold peaks at $3,047 an ounce and Bitcoin plummets, Rinsch reminds us that even “digital gold” can’t hide mistakes forever. Is this the end of a talent, or just the beginning of bigger scandals?


Risk Warning: Crypto investments carry high risks due to price volatility. Please consider carefully before participating. #anhbacong