Former '47 Ronin' Director Sentenced for Stealing $11 Million from Netflix

Hollywood director Carl Rinsch was sentenced to two and a half years in prison for defrauding Netflix out of $11 million, which he spent on crypto, stocks, and luxury goods.

Rinsch, known for directing the 2013 film '47 Ronin,' was convicted in December on charges including fraud and money laundering. He had claimed that the funds would be used to finance a television show, but instead made risky bets on highly speculative stock options and cryptocurrency, including a bet on Dogecoin (DOGE) that generated around $27 million.

With his winnings, Rinsch spent about $10 million on personal expenses and luxury goods, including five Rolls-Royces and a Ferrari. He never finished the show or returned the funds Netflix provided to complete it.