Carl Erik Rinsch, a filmmaker who secured a $61.2 million deal with Netflix for a sci-fi series titled “White Horse” (later “Conquest”), is on trial for allegedly defrauding the streaming giant. Despite receiving over $55 million from Netflix, prosecutors claim Rinsch never completed the series or aired any episodes. Instead, he reportedly diverted the funds into personal brokerage accounts, lost half in speculative stock trades, then recovered some through cryptocurrency investments. He used the gains for extravagant purchases, including five Rolls-Royces, a Ferrari, and two ultra-expensive Swedish mattresses costing $638,000 combined. Rinsch faces charges of wire fraud, money laundering, and unlawful monetary transactions, carrying up to 90 years in prison, but he pleads not guilty.
The production faced early budget overruns and stalled filming by late 2019, yet Rinsch misled Netflix executives about progress. His defense may argue that a psychotic state, possibly worsened by prescription stimulants and the pandemic, impaired his intent to commit fraud, though they do not claim insanity. Netflix has already won an $11.8 million civil arbitration against him. The trial, expected to last two weeks, will include testimony from former Netflix executives involved in the project. Meanwhile, Rinsch is described as indigent and unemployed, contrasting sharply with his lavish spending during the alleged fraud period.
