Netflix gives 55 million dollars to director to make ambitious series, he uses part to buy Ferrari, five Rolls‑Royce and invest on stock market

Netflix has entrusted 55 million dollars to Carl Rinsch to produce a series called Conquest, originally titled White Horse. The project began after Rinsch’s only previous film, 47 Ronin, starred Keanu Reeves and cost 175 million dollars at Universal. Netflix secured exclusive rights and granted Rinsch wide creative freedom. Between 2018 and 2019 the streaming giant paid roughly 44 million dollars to the production. Filming took place in Brazil, Uruguay and Hungary, but after shooting Rinsch delivered nothing to the platform. He then requested additional funding, and Netflix added an extra 11 million dollars in 2020.

The real story started with that 11 million. Rinsch transferred 10.5 million dollars to a personal brokerage account and placed it on high‑risk trades. Within weeks he lost half of the sum. He later invested in cryptocurrencies, and in May 2021 the value rose to nearly 27 million dollars after selling Dogecoin. Using those proceeds he purchased five Rolls‑Royce and a Ferrari for about 2.4 million dollars. Additional expenses included a 3.8 million dollar invoice for furniture and antiques, 650 000 dollars and 638 000 dollars spent on watches and clothing, and two luxury mattresses. Credit‑card statements show 1.8 million dollars spent on various items.

Keanu Reeves has asked the court to be "indulgent" on Rinsch’s behalf. Nevertheless, Rinsch continued to litigate against Netflix, seeking an additional 14 million dollars. In May 2024 an arbitrator ruled in Netflix’s favor, ordering Rinsch to repay about 8.8 million dollars and returning the footage to the streaming service, though the series was never released.

In March 2025 a U.S. federal court arrested Rinsch. In December 2025 a Manhattan jury found him guilty of electronic fraud, money laundering and illegal transactions. Prosecutors said the 11 million dollars from Netflix was meant to finish the series but was diverted to financial operations and personal spending. Reeves wrote a letter urging "indulgence and mercy", describing Rinsch as an "exceptional artist". The defense cited mental‑health struggles, medication mismanagement, professional pressure and a contentious divorce. Rinsch admitted part of the wrongdoing.

In the summer of 2026 Rinsch was sentenced to 30 months in prison, less than the five years the prosecution had sought. He responded, "I made a mistake". The court also imposed three years of post‑prison supervision, a 11 million dollar forfeiture and an additional 11 million dollars to be repaid to Netflix, plus 700 dollars in mandatory fees.

The story is not over; on July 7, 2026 Rinsch appealed the decision. A procedure remains open, and in late August the court denied a request to delay his detention. Since September 1 he has been incarcerated.

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Reported by Les Numeriques.