Carl Erik Rinsch, a director contracted by Netflix to create a science-fiction series, was convicted this week for orchestrating an $11 million (€9.3 million) fraud scheme. Prosecutors revealed that between 2018 and early 2020, Rinsch received funding from Netflix to develop the series, originally titled White Horse and later renamed Conquest. Instead of using the funds for production, Rinsch diverted the money into a personal brokerage account and engaged in securities trading.

Netflix halted development of the series in early 2021. After being notified that funding would cease, Rinsch reportedly spent the remaining production budget on cryptocurrency, luxury hotels in California and Spain, and high-end vehicles, including five Rolls-Royces and a Ferrari.

Rinsch, a Los Angeles resident, was arrested in March and charged with wire fraud, money laundering, and conducting financial transactions with illegally obtained funds. He claimed the $11 million was intended to support the production during the pandemic and to prepare for a possible second season. However, former Netflix executives testified that only one season was approved and that the funds were strictly for completing that season’s episodes, which Rinsch failed to deliver.

No episodes of Conquest were ever produced, leading Netflix to write off a total of $55 million invested in the project.

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