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>>Director of “47 Ronin” charged with wire fraud for alleged cryptocurrency spending.

Director of “47 Ronin” charged with wire fraud for alleged cryptocurrency spending.

crypthub

4 days ago

Conviction and Charges

Carl Erik Rinsch, the director of the Hollywood film 47 Ronin, was found guilty of one count of wire fraud and one count of money laundering. Prosecutors also secured five counts of using property derived from unlawful activity. Each fraud and laundering count carries a maximum of 20 years, while the additional counts allow up to 10 years each. His sentencing is set for April 17, 2026.

Misuse of Netflix Funds

In 2018 Netflix contracted Rinsch to produce the sci‑fi series White Horse, paying $44 million for initial episodes and an extra $11 million in 2020. Instead of completing the series, he transferred the latter sum through multiple accounts into a personal brokerage. He lost half of it trading digital assets and spent the remainder on luxury items, including furniture, a Swiss watch, Rolls‑Royces and a Ferrari.

Potential Sentencing and Reactions

U.S. Attorney Jay Clayton said the conviction shows authorities will follow the money when investors are cheated. Rinsch faces up to 90 days in prison, though total statutory maximums are far higher and will depend on the judge. His lawyer warned the case could set a precedent that turns creative disputes into federal fraud charges.