Fake Crypto Warning Issued

The show’s site warned of fraudulent memecoins using its branding: “We support Bitcoin and no other memecoin.”

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After documentaries like Trust No One and the upcoming The Altruists (about SBF and Caroline Ellison), Netflix expands its crypto-themed content.

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Streamer Amouranth revealed her home was invaded after sharing her $20M BTC holdings. Similar crypto-related attacks have surged in 2025.

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Gambling with Netflix Funds!

In an indictment unsealed on March 18 in Manhattan federal court, the U.S. Department of Justice charged Carl Erik Rinsch with fraud and money laundering. If convicted, he faces up to 20 years in prison.

According to the indictment, Netflix (though not explicitly named in court documents) paid Rinsch $11 million in March 2020 to finance storyboarding, pay actors, and edit footage for a sci-fi TV series titled “White Horse,” later renamed “Conquest.”

Instead, prosecutors claim Rinsch transferred approximately $10.5 million of those funds into a brokerage account, where he made a number of “extremely risky” trades, including call options on a biopharmaceutical company. He ultimately lost over $5.5 million on those trades.

Luck Turns in Crypto!

According to the indictment, Rinsch was more successful with cryptocurrencies. In February 2021, he made several million dollars trading crypto, which he used to purchase $3.8 million worth of furniture and antiques, five Rolls-Royces, a Ferrari, luxury watches, and over $3 million in high-end clothing.

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The Department of Justice’s filings reveal that Rinsch also spent around $1.8 million paying off credit card debts and $1 million on legal fees. These funds were partly used to sue Netflix for additional payments and to cover his divorce-related expenses.

The Series Never Aired!

According to the New York Times, Netflix canceled “Conquest” in early 2021 after Rinsch’s behavior reportedly became “erratic.” The Times reported that Netflix had paid Rinsch a total of $55 million, while prosecutors allege he received $44 million to produce the show, which was never completed or released.

Heavy Charges Filed!

Rinsch faces one count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions involving property derived from unlawful activity. Each fraud and money laundering charge carries a maximum sentence of 20 years, while each monetary transaction charge carries a maximum sentence of 10 years.

Rinsch was arrested on March 18, and his case has been assigned to U.S. District Judge Jed Rakoff in New York federal court. His attorney, Annie Carney, declined to comment outside the courtroom, according to the Associated Press.

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The post He Invested in Crypto and Stocks with Funds from Netflix Series! appeared first on Coin Engineer.

According to news that emerged on November 22, Rinsch demanded an extra 14 million dollars from Netflix based on a secret arbitration lawsuit.

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In the released news, Rinsch’s behind-the-scenes developments in the Conquest series broadcast on Netflix are described. Also, the series, for which a budget of 55 million dollars has been allocated, has not yet aired a single episode.

In March 2020, Netflix provided 44 million dollars as an initial budget by buying Rinsch’s idea. However, 16 months later, the series’ director made another funding request. Also, Netflix sent an additional 11 million dollars on the condition of completing the series.

Some financial tables show that Rinsch allegedly lost about 6 million dollars in a few weeks by playing option bets on pharmaceutical companies and the S&P 500 using the 10.5 million dollars of this new fund in the stock market.

This situation reveals a crazy story full of various financial developments, from the 44 million-dollar initial budget that the series platform spent on the Conquest series to the income Rinsch obtained with his Dogecoin bets.

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The post Netflix Series Budget Invested in Dogecoin! (4 Million Dollars) appeared first on Coin Engineer.