Director blows $55mn Netflix show budget on luxury watches and cars

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Netflix invested $55 million in a sci-fi show that never aired, which has now become a legal case. 

The director, Carl Erik Rinsch, who was meant to bring the series White Horse (later Conquest) to life, allegedly squandered the money on luxury cars, high-end mattresses, and extravagant living. 

Now, he faces serious federal charges, including wire fraud and money laundering.

This news comes as Netflix has significantly raised its subscription prices. Its top-tier plan now costs $24.99/month. 

Rinsch originally pitched his project to Amazon in 2017. However, Netflix outbid its rival, offering him $44 million upfront to create a 13-episode sci-fi series centered on superintelligent humanlike clones. 

Netflix made payments over 2018 and 2019, but by 2020, Rinsch requested an additional $11 million, claiming he needed it to complete production. 

Netflix obliged, but the money allegedly never went toward the show. Instead, prosecutors say Rinsch diverted the funds to personal accounts, spending lavishly on luxury goods and speculative investments.

Among his extravagant purchases were $2.4 million worth of Rolls-Royces and a Ferrari, $638,000 for two high-end mattresses, $395,000 for extended stays at the Four Seasons, and $652,000 on designer watches and clothing. 

In his defense, Rinse claims these purchases were props for the show. However, a mediator later ruled that he owed Netflix more than $11 million, as many of his claimed “props” were considered unnecessary for production. (via: The Verge)

Moreover, he also spent $1 million on legal fees to sue Netflix to obtain even more money.

Rinsch’s erratic behavior intensified after Netflix pulled the plug on the project in 2021. 

He allegedly made bizarre claims about predicting natural disasters and mapping the coronavirus signal. Meanwhile, according to reports, his crypto investments were successful, allowing him to spend millions on himself.

Now, the case has moved beyond corporate missteps to criminal prosecution. Authorities aim to hold Rinsch accountable for what they describe as a multi-million-dollar fraud scheme.

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