Rinsch, 48, best known for directing “47 Ronin”, was found guilty of federal fraud and money laundering after prosecutors proved he diverted production funds to personal investments and luxury purchases instead of completing the project.

Hollywood filmmaker Carl Erik Rinsch, known for directing “47 Ronin”, was arrested Tuesday (March 18) on charges that he swindled $11 million from Netflix for a sci-fi show that never aired, instead steering the cash toward cryptocurrency investments and a series of lavish purchases that included a fleet of Rolls-Royces and a Ferrari.