A Hollywood director convicted of defrauding Netflix of $11m (\u00a38.3m) last year has been sentenced to two and a half years in prison. <\/p>\n
Carl Erik Rinsch was accused of using Netflix funds intended to complete a science fiction series to buy cars, cryptocurrency and other luxuries for himself. <\/p>\n
The 48-year-old, best known for the 2013 film 47 Ronin, was convicted of federal fraud and money laundering for misusing funds.<\/p>\n
Rinsch faced up to 90 years in prison, but was expected to receive a lighter sentence. <\/p>\n
Judge Jay Rakoff also sentenced Rinsch to three years of supervised release, $11m in forfeitures, and a $700 fine.<\/p>\n
Speaking to the court before the judge issued his sentence, Rinsch apologised and said he accepted responsibility for his crimes.<\/p>\n
“Today’s sentence sends a deterrent message: Fraud will not be tolerated,” US Attorney Jay Clayton said in a statement.<\/p>\n
Prosecutors said Netflix gave Rinsch roughly $55m for the unfinished sci-fi show, initially named White Horse, including $11m he told them he needed to complete production.<\/p>\n
Instead, prosecutors said, he put the money in a personal account where he invested it and lost half within a couple of months. <\/p>\n
He put funds into cryptocurrency, and spent money on lavish purchases such as Rolls Royce cars and mattresses costing hundreds of thousands of dollars, according to prosecutors. <\/p>\n
During his one-week trial in New York, several Netflix executives were called to testify, saying they only agreed to one season of the show, which Rinsch failed to deliver. <\/p>\n
Rinsch took the stand as well – a rare move for a defendant in a criminal case – claiming the situation was a misunderstanding and he believed the money was meant to keep the show going during the pandemic.<\/p>\n