Netflix has lost 55 million dollars, more than half a billion Swedish kronor, on its collaboration with Carl Erik Rinsch, which may now lead to the American director being imprisoned, according to AP.
Rinsch, who was arrested by the police in West Hollywood on Tuesday, was hired to make a TV series for Netflix. The original budget was 44 million dollars. But when filming dragged on, Rinsch asked for more money and received an additional 11 million dollars, 110 million kronor.
However, no series was ever completed, and Netflix's patience wore thin with Rinsch's behavior. According to the New York Times, the director behaved irrationally and came up with wild theories about what caused covid-19. He also claimed to be able to predict earthquakes and thunderstorms.
The streaming giant stopped production as early as 2021, but then Rinsch diverted the remaining funds to his private accounts to finance vacation trips, buy expensive furniture, watches, luxury cars, and other branded goods. He also made large investments in stocks and cryptocurrencies using Netflix's money, the prosecutor alleges.
Rinsch is best known for directing the film "47 Ronin" and the Netflix series "White Horse" was supposed to be a major venture, which is now not happening.
Netflix has simultaneously sued Rinsch in a civil lawsuit and won the case. A judge ordered the director to pay 12 million dollars to the streaming giant, according to the New York Times.
