8legs: New york federal trial

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Jury hears how Netflix director lost a fortune on options trades — days after streamer sent him $11M for 'visionary' show

The Manhattan federal trial scrutinizes whether Netflix funds were used for the White Horse project or personal investments after the 2020 wired payment.
Prosecutors say Rinsch moved funds to Wells Fargo and then to Citibank to establish a new brokerage, spawning seven-figure option bets soon after the payout.
Witnesses testified that Rinsch engaged in highly risky options trades after Netflix wired the funds, risking millions.
Defense argues the $11 million was contractually promised and meant for the project, not for personal expenditure.
The trial revealed how Netflix wired the $11 million during the COVID-19 production halt in 2020.
Jurors heard testimony from former Netflix executives about the project’s status and the decision to pull support.
Prosecutors claim the funds were used for luxury spending and trading losses rather than project costs.
Rinsch faces potential penalties if convicted of wire fraud, money laundering, and unlawful monetary transactions.
The trial continues with ongoing testimony from financial advisors about the handling of the funds.
The project 'White Horse' never produced a completed episode despite the funds and efforts.

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