A certain film director has misappropriated $11 million of Netflix's funds to purchase cryptocurrency and luxury goods, and has been charged with wire fraud and money laundering.

BlockBeats News, March 19, 2023 - Carl Linsh, the director of the 2013 film "47 Ronin" starring Keanu Reeves, was arrested in West Hollywood on Tuesday on charges of wire fraud and money laundering. It is reported that he embezzled $11 million from a well-known streaming platform (multiple reports apparently refer to Netflix).

The prosecutor alleges that Linsh, in 2020, requested additional funds from a streaming service to complete his sci-fi series "White Horse," but instead transferred this money to a personal account and began securities trading. The prosecutor stated that prior to this, his production company had already received $44 million in payments. According to the statement, by the end of April 2020, Linsh had lost over half of the funds through high-risk investments, including highly speculative options and cryptocurrency trading, as well as an ETF tracking the S&P 500 index.

The indictment states that Linsh also used these funds for "cryptocurrency speculation - ultimately proving to be profitable." Linsh also used these profits to spend $2.4 million on five Rolls-Royces and a Ferrari, $3.7 million on furniture and antiques, $652,000 on watches and clothing, $638,000 on two mattresses, and $295,000 on luxury bedding and linen products.