Netflix Loses $11 Million as '47 Ronin' Director's Crypto Scheme Unravels

Hollywood director Carl Rinsch has been sentenced to 30 months in federal prison for defrauding Netflix out of $11 million intended to finance a science-fiction television production.

Rinsch, best known for directing the 2013 film '47 Ronin' starring Keanu Reeves, was convicted in December on counts including fraud and money laundering.

Prosecutors said Rinsch diverted the funds into speculative trading, including cryptocurrency, before spending large portions on personal expenses and luxury purchases.

The case began with Rinsch's arrest in March 2025 and closes a 15-month legal saga that saw prosecutors frame crypto trading as part of an overall use of client funds that was deceptive.