A former Netflix executive, Carl Erik Rinsch, was accused of blowing the entire $55 million investment on a cancelled sci-fi series on lavish gifts and poor financial decisions in 2018.
Source: https://www.marketwatch.com/story/netflix-paid-55-million-for-a-show-prosecutors-say-the-creator-blew-it-on-rolls-royces-and-crypto-8f065cf6