Summary
- It was reported that director Carl Erik Rinsch caused controversy by using Netflix's investment of $11 million for cryptocurrency and stock investments.
- U.S. federal prosecutors announced that they have charged Rinsch with fraud and money laundering.
- According to the indictment, if found guilty, Rinsch could face up to 20 years in prison.
A director who received investment funds from Netflix to produce a film is causing controversy for using the funds for cryptocurrency investments.
On the 19th (local time), cryptocurrency news outlet Cointelegraph reported that U.S. federal prosecutors arrested director Carl Erik Rinsch and charged him with fraud and money laundering.
Rinsch allegedly misappropriated $11 million that Netflix provided in March 2020 for filming the sci-fi drama 'Conquest,' using it for stock investments, cryptocurrency investments, and other purposes.
According to the indictment released by the Department of Justice, if found guilty, Carl Erik Rinsch could face up to 20 years in prison.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
