Carl Rinsch, director of "47 Ronin," was convicted of defrauding Netflix of funds to purchase cryptocurrency and luxury goods.

PANews reported on December 12th that, according to Decrypt, Carl Rinsch, director of the film "47 Ronin," has been convicted on seven counts, including wire fraud and money laundering, for misappropriating $11 million from Netflix . He faces a maximum sentence of 90 years in prison. Prosecutors stated that he used the funds for cryptocurrency investments and extravagant spending, including purchasing luxury cars, luxury goods, and paying credit card bills. Netflix had planned to fund the production of his series "Conquest," but the project was canceled in 2021.