Overview
In a tale that could rival the plots of science-fiction shows, Netflix finds itself entangled in a legal battle with filmmaker Carl Erik Rinsch. The bizarre story unfolds as Rinsch, known for the 2013 film “47 Ronin,” persuaded Netflix to invest an eight-figure budget in his ambitious science-fiction series, only for the project to take an unexpected and bewildering turn.
The Peculiar Netflix Deal
Despite Rinsch’s checkered past in the film industry, Netflix engaged in a bidding war with Amazon in late 2018 for Rinsch’s original science-fiction series centered on artificial intelligence. Netflix not only granted Rinsch an 8-figure budget but also handed him full creative control and oversight of the production budget – a decision that would later prove to be unconventional, to say the least.
A Filmmaker’s Unraveling
Shortly after signing the deal, Rinsch’s behavior took a bizarre turn. Reportedly experiencing psychotic episodes, possibly linked to ADHD medication, he failed to meet production deadlines. His erratic claims, including supposedly discovering “Covid-19’s secret transmission mechanism” and predicting lightning strikes, raised concerns about his mental state.
Despite these red flags, Netflix continued pouring funds into the series, reaching a staggering $55 million. By March 2020, the project, now titled “Conquest,” had consumed $44.3 million. Notably, Rinsch requested additional funds, and Netflix, astonishingly, agreed to raise the budget by an additional $11 million.
A Lavish Spending Spree
Here’s where the narrative takes an even stranger turn. Allegedly, Rinsch diverted $10.5 million meant for television content production to his personal brokerage account. He engaged in high-stakes stock trading and reportedly lost $5.9 million in just a few weeks. Simultaneously, he embarked on a luxury spending spree, using production funds to acquire five Rolls-Royce automobiles, a Ferrari, a Vacheron Constantin watch worth $387,630, and millions of dollars in high-end furniture and designer clothing.
The Dogecoin Twist
In a surprising twist, Rinsch invested $4 million of the remaining funds in his brokerage account into Dogecoin. Against all odds, this gamble paid off, as he managed to turn $4 million into an astounding $27 million when he liquidated his Dogecoin holdings in May 2021.
Legal Fallout and Ongoing Drama
With Netflix writing off the entire project, Rinsch finds himself in a legal battle with the streaming giant, accusing them of breaching their contract. Remarkably, he claims Netflix still owes him an additional $14 million. Meanwhile, Rinsch’s soon-to-be ex-wife alleges that his lavish spending was an attempt to conceal the Dogecoin windfall, potentially to evade a substantial divorce settlement.
The Netflix-Rinsch saga unfolds like a surreal drama/comedy, leaving the industry and audiences bewildered by the twists and turns of this peculiar chapter in filmmaking history.
Note: All information is based on the provided article, and details may evolve as the story develops.
