’47 Ronin’ director found guilty of defrauding Netflix out of $11 million

A director who was charged with defrauding Netflix out of millions of dollars has been found guilty, Business Insider reports. Carl Rinsch, director of the 2013 Keanu Reeves movie 47 Ronin, now faces up to 90 years in prison.Rinsch began filming the project, White Horse (later renamed Conquest), around 2017. (Its premise: A scientist creates an organic humanoid species that turns on its creators.) The director completed six short-form episodes with his own money and investor funds. He then used those episodes to pitch studios for the money to complete the first season. Netflix ended up buying the rights for over $61 million.In 2020, after spending $44 million of Netflix's money on the series, Rinsch petitioned for another $11 million to complete the season. The company agreed.Then things got weird. Instead of using Netflix’s investment to finish the series, Rinsch transferred the funds to personal accounts. Within two months, he lost over half of it on seven-figure stock trades. He