There is very little Keanu Reeves can not do, but even the best efforts and intentions of the John Wick superstar couldn’t save his 47 Ronin director for serving time behind bars for scamming Netflix out of millions.
Almost two months after Reeves wrote to Judge Jed Rakoff asking that Risch’s sentence might be “tempered with measures of leniency and mercy as well as justice,” the same federal judge handed the first-time convicted filmmaker two and a half years in prison.
In a hearing in NYC today, almost seven months after the clearly troubled Rinsch was found guilty in his fraud and money laundering trial, Judge Rakoff noted the mental health issues the director was dealing with. However, the judge’s empathy only went so far. Stating that Rinsch was “determined to lie” in order to secure tens of millions from Netflix for his never-finished android drama White Horse/Conquest, Judge Rakoff added that it was clear to him the director hoped to “cover it up through money laundering and lies.”
U.S. Attorney’s office for the Southern District of New York had sought a more severe sentence for Rinsch. With guidelines offering literally decades behind bars as an option, the still Jay Clayton-run office had wanted to see Rinsch get a minimum of 60 months or just over five years for his crime.
“Carl Erik Rinsch orchestrated a scheme to steal millions by seeking $11 million from a subscription streaming service, falsely claiming that money would be used to finance a television show that he was creating,” said Clayton Monday.
“Instead of using the money to make the show, Rinsch made risky bets on highly speculative stock options and cryptocurrency, and spent millions of dollars on luxury goods for himself,” continued the prosecutor, who after a year running SDNY is now nominated to be Donald Trump’s next director of national intelligence.
“Today’s sentence sends a deterrent message: fraud will not be tolerated.”
In court today, Rinsch said he was “deeply sorry” for his actions taking the streamer for a very expensive ride the past several years. He added: “I failed to recognize the danger of the condition I was in. I failed to seek help. I accept responsibility.
The West Coast-based RInsch has been out on a $100,000 bond posted after the Department of Justice indictment against him came down in March 2025.
Despite then now Paramount+ boss Cindy Holland having inked an admittedly off the leash (in hindsight) more than $40 million deal in 2018 for Rinsch’s ambitious and Reeves vouched for project, and then the streamer being bilked for another $11 million later, Netflix had no comment on today’s sentence.
Five years ago, with only a few teaser clips delivered by the final-cut holding Rinsch, Netflix washed their digital hands of White Horse/Conquest .The now Ted Sarandos and Greg Peters-run streamer then wrote off over $55 million in costs. A couple years later Netflix won a $12 million arbitration ruling against Rinsch after the filmmaker claimed that the company actually owed him $14 million.
Even with that 2024 ruling and last year’s trial , Rinsch hasn’t paid back Netflix anything, though he is still obliged to. Rinsch is also supposed to pay legal fees, though doubtful that will occur either.
Rinsch’s defense team, who had been advocating to keep their once high flying and now allegedly broke client out of the clink, did no respond to Deadline’s request for comment Monday after the sentencing.
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