A Hollywood filmmaker has been convicted of scamming Netflix out of $11 million and blowing the cash on crypto and other investments.

Carl Erik Rinsch, who directed the 2013 Keanu Reeves film “47 Ronin,” was on Thursday found guilty of defrauding the streaming service into giving him the cash to make a science fiction show called “White Horse.”

After receiving $44 million, Rinsch, 48, persuaded Netflix to give him another $11 million in 2020.

But instead of using the money to fund the show, Rinsch transferred the money to a personal brokerage account and lost most of it speculating on “extremely risky” securities, according to court documents.

Rinsch then used the remainder to invest in crypto — and made some gains in 2021. He used that money to fund lawyers for his divorce, buy luxury goods like fancy bedsheets and clothes, and snap up five Rolls-Royce cars and a Ferrari, court documents added.

The cryptocurrencies Rinsch invested in were not named by the US Department of Justice but the New York Times in 2023 said it had reviewed an account statement from the filmmaker and found that he had bought Dogecoin.

“White Horse” was never finished and the funds were never returned, prosecutors said, despite Rinsch telling them that production was “awesome and moving forward really well.”

“Carl Erik Rinsch took $11 million meant for a TV show and gambled it on speculative stock options and crypto transactions,” United States Attorney for the Southern District of New York, Jay Clayton, said in a statement.

Netflix did not immediately respond to questions from DL News.

Rinsch was found guilty of one count of wire fraud, one count of money laundering, and five counts of engaging in monetary transactions in property derived from specified unlawful activity after a one-week trial.

He will be sentenced in April 2026.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at mdisalvo@dlnews.com.