A New York jury has convicted Hollywood director Carl Erik Rinsch of fraud and money laundering charges, related to his alleged embezzlement of $11 million from Netflix. According to the prosecution, Rinsch used the funds to invest in various projects, resulting in him losing more than half of the money in less than two months. He then used the remaining funds to invest in cryptocurrencies and purchase Merk-Benz and Ferrari cars, including at least $33 million worth of furniture, antiques, and mattresses; at least $3.9 million worth of Swiss watches; and at least $24 million to purchase five Mercedes-Benz cars and a red Ferrari. Rinsch is set to be sentenced on April 17, 2026. His conviction has sparked widespread outrage in the entertainment industry, with many calling for greater accountability and transparency in the way production companies handle their finances. The case serves as a reminder of the importance of responsible financial management and the need for stricter regulations to prevent such incidents in the future.