’47 Ronin’ director convicted of wire fraud, money laundering
Carl Erik Rinsch, known for directing the movie “47 Ronin,” was convicted of wire fraud and money laundering for misappropriating funds provided by Netflix for a science-fiction series, the U.S. Attorney’s Office in New York announced.
- Hollywood director Carl Erik Rinsch was convicted of wire fraud and money laundering for misusing Netflix funds.
- Prosecutors said Rinsch diverted the money into personal accounts and speculative trades—including Dogecoin—and luxury items.
- Rinsch faces up to 20 years per fraud and laundering count.
Rinsch was found guilty of one count of wire fraud and one count of money laundering, each carrying a maximum sentence of 20 years in prison.
Prosecutors also secured convictions on five counts of engaging in monetary transactions in property derived from specified unlawful activity, with each count carrying a maximum sentence of 10 years. Sentencing is scheduled for April 17, 2026.
According to the indictment unsealed in Manhattan federal court on March 18, Rinsch reached an agreement with Netflix in 2018 to produce episodes of a science-fiction series. After spending the initial budget, the streaming service transferred additional funds in March 2020 to complete the project. The series was never finished, according to federal prosecutors.
Within days of receiving the additional funds, Rinsch transferred the money through multiple bank accounts and into a personal brokerage account, prosecutors said. The funds were then used to make speculative securities purchases, according to the announcement.
“His trading was unsuccessful, and within two months after receiving the additional funds, Rinsch had lost more than half of them,” the U.S. Attorney’s Office stated.
Prosecutors alleged that Rinsch spent a portion of the funds on stock options and cryptocurrency, including Dogecoin. Despite reportedly realizing a substantial profit on the Dogecoin investment, the funds were intended for production expenses, according to the indictment.
Rinsch also spent millions on luxury items, credit card bills, and additional cryptocurrency investments, prosecutors said.
Rinsch’s attorney argued that the verdict could set a precedent that would allow contractual and creative disputes between artists and financial backers to result in federal fraud charges.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Investing in EdTech and Skills Training to Empower Tomorrow's Workforce
- Global high-growth sectors like AI, renewables, and biotech are reshaping workforce demands, driving rapid STEM education evolution through edtech and vocational training. - AI-powered adaptive learning and immersive VR/AR tools now personalize education, with 36% of 2024 edtech funding directed toward workforce-specific skill development. - Vocational programs and industry partnerships (e.g., U.S. EC4A, EU Green Deal) are closing STEM skills gaps, creating direct pipelines to 16.2M+ clean energy jobs by
The Rising Influence of EdTech on Career-Focused Investment Prospects
- Global EdTech market grows at 20.5% CAGR to $790B by 2034, driven by STEM/digital skills demand. - STEM workers earn 45% higher wages; 10.4% occupation growth vs 4.0% non-STEM, reshaping labor markets. - 2025 EdTech VC investments show 35% YoY decline, concentrating on AI tools and scalable upskilling platforms. - MENA/South Asia EdTech sees 169% funding growth, addressing equity gaps through global platforms. - AI-driven EdTech and M&A activity (e.g., ETS-Ribbon) highlight sector's shift toward outcome-
KITE Price Forecast Following Listing: Managing Post-IPO Fluctuations and Institutional Investor Outlook
- Kite Realty Group (KITE) fell 63% post-IPO despite strong retail occupancy and NOI growth, highlighting valuation disconnect between real estate fundamentals and tech IPO expectations. - Institutional sentiment split: COHEN & STEERS boosted holdings by 190% amid industrial pivot, while others divested $18. 3M , reflecting uncertainty over hybrid retail-industrial strategy execution. - Analysts remain divided on $24–$30 price targets, balancing KITE's 7.4% dividend increase and industrial shift against ma
The Increasing Importance of Blockchain Education for Strategic Growth in Emerging Markets
- Blockchain education in emerging markets is accelerating token adoption and financial inclusion by addressing technical barriers and fostering trust in decentralized systems. - Trust Wallet Token (TWT) enables low-cost remittances and DeFi access through gas discounts and fee reductions, targeting regions with weak traditional banking infrastructure. - Strategic partnerships like Trust Wallet-EBI and UNDP blockchain training programs amplify TWT's utility in governance, identity management, and cross-bor
Trending news
MoreCrypto prices
More
