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‘47 Ronin' director convicted of defrauding Netflix out of $11 million meant for TV show [Los Angeles Times (CA)]

Netflix, Inc. (NFLX)  More Company Research Source: Los Angeles Times
Last netflix, inc. earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
U.S. District Judge Jed S. Rakoff found Rinsch guilty of wire fraud, money laundering and other charges, the U.S. Attorney's Office, Southern District of New York announced . Attorney Benjamin Zeman, who represents Rinsch, denounced the verdict in a statement shared Friday. “I think the verdict was wrong and I fear that this could set a dangerous precedent for artists who become embroiled in contractual and creative disputes with their benefactors,” Zeman said, “in this case one of the largest media companies in the world, finding themselves indicted by the federal government for fraud.” A representative for Netflix did not comment on Rinsch's conviction. Federal prosecutors alleged in a March indictment that the $11 million was meant to go toward finishing a TV show in which $44 million had already been invested. Prosecutors allege the money instead went into Rinsch's personal accounts, his personal spending and his personal gains and losses. The director, 48, “quickly transfe [Read more]
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Stockreport

‘47 Ronin' director convicted of defrauding Netflix out of $11 million meant for TV show [Los Angeles Times (CA)]

Netflix, Inc.  (NFLX) 
More Company Research Source: Los Angeles Times
Last netflix, inc. earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
U.S. District Judge Jed S. Rakoff found Rinsch guilty of wire fraud, money laundering and other charges, the U.S. Attorney's Office, Southern District of New York announced . Attorney Benjamin Zeman, who represents Rinsch, denounced the verdict in a statement shared Friday. “I think the verdict was wrong and I fear that this could set a dangerous precedent for artists who become embroiled in contractual and creative disputes with their benefactors,” Zeman said, “in this case one of the largest media companies in the world, finding themselves indicted by the federal government for fraud.” A representative for Netflix did not comment on Rinsch's conviction. Federal prosecutors alleged in a March indictment that the $11 million was meant to go toward finishing a TV show in which $44 million had already been invested. Prosecutors allege the money instead went into Rinsch's personal accounts, his personal spending and his personal gains and losses. The director, 48, “quickly transfe [Read more]
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