The streaming platform faces a court hearing to resolve a conflict with a filmmaker who did not finish his production and spent the budget on luxury goods.
Sometimes a company can make bad decisions but few are known where the move turns out as bad as the story between Netflix and director Carl Rinsch. The filmmaker would have spent a budget of US$55 million in a series that never ended while invested in cryptocurrencies and luxury cars.
Is about a series called Conquest that Netflix won at the last minute with a promise of a big budget and full creative control for Rinsch. The director is known for having made the film Keanu Reeves, 47 Ronin, destroyed by criticism. Shortly after filming began they realized that the director would not deliver even a complete episode.
According to the New York Times report, one year and four months after having bought the idea and granted the budget of US$44 millionRinsch asked for US$11 million more which they granted him under the condition that he finish the series. During filming, several witnesses say that the filmmaker began to have a “erratic behavior.”
That didn’t happen. According to the medium, Rinsch put $10.5 million of those funds betting on the stock market and lost almost $6 million. With just over $4 million, the filmmaker transferred the money to the exchange cryptocurrencies Kraken and invested in DOGE. In May 2021 settled about US$27 million.
But the director did not invest those profits in his productions. A financial report from Rinsch’s divorce indicates that the filmmaker He spent about $9 million on furniture, designer clothes, a luxury watch worth more than $380,000, five Rolls-Royces and a Ferrari.
Now, Rinsch is pursuing a legal dispute against Netflix, ensuring that it spent its money well and that it even The streaming platform owes him $14 million more. Netflix responds that The payments depended on Rinsch’s results that never came.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
