Director Carl Rinsch Found Guilty of Defrauding Netflix of Millions for Never-Made Show

A New York jury has found filmmaker Carl Rinsch guilty of defrauding Netflix out of more than $11 million over a never-completed sci-fi series.

The verdict came after just a few hours of deliberation in a federal courtroom in Manhattan, following a trial that lasted under two weeks, according to the U.S. Attorney’s Office for the Southern District of New York.

Rinsch, known for directing 47 Ronin, faced charges including wire fraud and money laundering. He could have received up to 90 years in prison, but Judge Jed Rakoff is expected to hand down a far lighter sentence. A sentencing hearing is scheduled for April 17, 2026.

“Carl Erik Rinsch took $11 million meant for a TV show and gambled it on speculative stock options and crypto transactions,” said U.S. Attorney Jay Clayton after the verdict. “Today’s conviction shows that when someone steals from investors, we will follow the money and hold them accountable.”

Rinsch had pleaded not guilty and even testified on his own behalf during the trial. He claimed that the money he received from Netflix, in addition to tens of millions he had previously obtained for the never-finished series White Horse, later renamed Conquest, was used to cover his own investment in the project. He argued that some of the footage he had already shot could have been used to secure a second season from the streaming service.

The jury didn’t accept his explanation, even with testimony from former Netflix executives Cindy Holland and Peter Friedlander. According to government prosecutors, Rinsch “knowingly having devised and intending to devise a scheme and artifice to defraud, and for obtaining money and property by means of false and fraudulent pretenses.”

Rinsch faced multiple charges: one count of wire fraud, carrying up to 20 years in prison; one count of money laundering, also up to 20 years; and five counts of engaging in monetary transactions in property from unlawful activity, each with a maximum of 10 years. He had been out on a $100,000 bond since the indictment in March.

Netflix initially paid over $44 million for the project and later approved an additional $11 million in 2020 for various production needs. However, by 2021, the series was canceled with only a few teaser clips completed, and the company wrote off over $55 million. Netflix later won a $12 million arbitration ruling against Rinsch in 2024 after he claimed the company owed him $14 million. According to the trial, he has yet to repay the funds.

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