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Netflix Director Convicted of Diverting $11M Production Funds to Crypto Speculation

Netflix Director Convicted of Diverting $11M Production Funds to Crypto Speculation

Author:

Global Cryptocurrency

Published:

2025-12-13 07:03:02

18

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BTCCSquare news:

Hollywood director Carl Rinsch faces decades in prison after being convicted of wire fraud for misappropriating $11 million in Netflix production funding. The funds, earmarked for his sci-fi series 'Conquest,' were funneled into high-risk cryptocurrency trades and luxury purchases instead.

Rinsch's scheme unraveled when forensic accounting revealed the diverted funds—part of a $44 million total budget—moving through shell accounts before being wagered on crypto markets. The conviction underscores persistent risks in entertainment financing as streaming platforms scale production budgets.

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