A Netflix director has been charged with fraud and arrested for misappropriating series budgets for stock and Crypto Assets trading.

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Odaily News Netflix director Carl Erik Rinsch has been charged with fraud and arrested for misappropriating the series budget for stock and crypto asset trading. It is reported that Carl Erik Rinsch misappropriated 4 million dollars from the Netflix series Conquest to bet on DOGE, earning 27 million dollars in profit. Netflix spent 55 million dollars on Conquest but has not released a single episode. In March 2020, Netflix purchased Rinsch’s concept, providing a budget of 44 million dollars, and 16 months later, the director requested additional funding, to which Netflix agreed to add 11 million dollars upon the completion of the series. (The Block)

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