Netflix hired science-fiction series creator Carl Erik Rinsch, who allegedly stole $11 million from the company instead of completing his project “Conquest.” Rinsch used the funding to trade securities and finance personal investments. In 2023, an arbitrator ruled he owed Netflix nearly $12 million in damages and legal fees. The indictment alleges wire fraud, money laundering, and misuse of funds meant for production.
Rinsch had sold Netflix the show near the streaming boom’s peak but was canceled after erratic behavior. He spent the remaining production money on luxury items, including cars and furniture, claiming they were props for the show. However, an arbitrator found none of these purchases necessary for the project. The company ultimately wrote off $55 million spent on “Conquest.”
Source: https://www.nytimes.com/2025/03/18/business/media/netflix-fraud-filmmaker-science-fiction.html