A Netflix Director Used $4M of his Show's Budget to buy #Doge🦊, Netting $27M in Profits

#Netflix "Conquest" director, Carl Erik Rinsch, reportedly diverted $4 million from the show's budget to invest in Dogecoin, reaping a staggering $27 million profit. Seeking an additional $14 million from Netflix through confidential arbitration, Rinsch's show, allocated a $55 million budget, is yet to release its first episode. Despite an initial $44 million budget in March 2020 and an $11 million supplement from Netflix under the condition of completing the series, financial records reveal Rinsch used $10.5 million for stock market speculation, incurring losses. After transferring the remaining $4 million to Kraken, he bet it all on Dogecoin, withdrawing $27 million in May 2021.

Reportedly spending $9 million on extravagant purchases such as luxury furniture, designer clothing, a watch worth over $380,000, five #Rolls-Royces, and a #Ferrari. Details emerged from a forensic accountant hired by Rinsch's ex-wife during their divorce proceedings. In response, Rinsch initiated arbitration against Netflix, alleging a contract breach and seeking $14 million in damages, a claim Netflix denies, labeling it an extortion attempt.