47 Ronin Director Accused Of Fraud Including Dogecoin

Dogecoin bets and luxury spending

Rinsch also funneled millions into cryptocurrency. Court filings show he spent roughly $4 million on Dogecoin. That bet briefly paid off. At its peak, the Dogecoin position grew to nearly $27 million.

Instead of returning the money or using it for production, prosecutors said Rinsch spent heavily on personal items. Records showed purchases of luxury cars, expensive furniture, designer clothing, hotel stays, and large credit card bills.

Despite the spending, the White Horse series never moved forward. Netflix eventually canceled the project and pursued arbitration to recover the funds.

Fraud charges and conviction

Federal investigators arrested Rinsch in March 2025. Prosecutors accused him of lying to Netflix executives about how he planned to use the additional funding.

At trial, the government presented emails, bank records, and brokerage data to show intent. They argued Rinsch knowingly misled Netflix and immediately redirected the money for personal use.

The jury agreed.

US District Judge Jed Rakoff presided over the case. Prosecutors described the conduct as deliberate fraud rather than a creative dispute.

Rinsch’s lawyer pushed back on that view. He argued the verdict could create a dangerous precedent for artists involved in contractual conflicts with major studios. He said creative disagreements should not turn into federal criminal cases.

The court rejected that argument.

What comes next

Rinsch now awaits sentencing in April 2026. While the maximum penalties exceed several decades, legal experts expect a shorter sentence based on federal guidelines.

Netflix has already won arbitration and continues to seek repayment through civil court.

The case has drawn attention across Hollywood and the crypto world. It highlights how speculative trading, including memecoin bets like Dogecoin, can intersect with fraud when misused corporate funds are involved.

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