Hollywood director invests in cryptocurrency :)

[BenCodie]

Why not just produce the show and then invest the profits into Bitcoin afterward  What a stupid way to spend the money too. Hollywood though, I suppose it makes sense

Don't blame Hollywood for this. It's theft nothing more. No matter how much $ the film made there is no way someone who is not a A list well know director is going to get that much money.
And then you have those pesky things like taxes and everything else.

-Dave

What I meant is that it's not surprising for a story like this to come out of Hollywood. I'm not blaming Hollywood for this persons actions/theft, but it is no surprise that is where it took place, given the scandals and corrupt foundations which Hollywood are built on.

[Z-tight]

This is not a good reputation for him an A list producer I guess.

Nobody cares what is good for him anymore or for his reputation, all of that was flushed down the toilet after he did all that he did in this case. Is there any new information about this? I am scratching myself to find out what the reason/excuse/defense for this is.

That is funny 

Very funny indeed, hard to believe someone actually did this with their eyes wide open.

[DaveF]

Why not just produce the show and then invest the profits into Bitcoin afterward  What a stupid way to spend the money too. Hollywood though, I suppose it makes sense

Don't blame Hollywood for this. It's theft nothing more. No matter how much $ the film made there is no way someone who is not a A list well know director is going to get that much money.
And then you have those pesky things like taxes and everything else.

-Dave

What I meant is that it's not surprising for a story like this to come out of Hollywood. I'm not blaming Hollywood for this persons actions/theft, but it is no surprise that is where it took place, given the scandals and corrupt foundations which Hollywood are built on.

Guess we are going to have to agree to disagree on this one.

You see things like this all the time.

People making X steal 10X and get caught. Funny part is a lot of the time even if they didn't get caught on the theft the fact that they have 10X what they should gets them tripped up in taxes and other things. Think Aldrich Ames, yes he was a traitor but had he not been out spending all the $ he got it probably would have taken longer to catch him.

I have no idea where you work or what you earn, but if you are making $100K and all of a sudden there is $5million missing from your job and you show up to work in a Lambo people are going to look at you 1st to see where the money went.

-Dave

[BenCodie]

Why not just produce the show and then invest the profits into Bitcoin afterward  What a stupid way to spend the money too. Hollywood though, I suppose it makes sense

Don't blame Hollywood for this. It's theft nothing more. No matter how much $ the film made there is no way someone who is not a A list well know director is going to get that much money.
And then you have those pesky things like taxes and everything else.

-Dave

What I meant is that it's not surprising for a story like this to come out of Hollywood. I'm not blaming Hollywood for this persons actions/theft, but it is no surprise that is where it took place, given the scandals and corrupt foundations which Hollywood are built on.

Guess we are going to have to agree to disagree on this one.

You see things like this all the time.

People making X steal 10X and get caught. Funny part is a lot of the time even if they didn't get caught on the theft the fact that they have 10X what they should gets them tripped up in taxes and other things. Think Aldrich Ames, yes he was a traitor but had he not been out spending all the $ he got it probably would have taken longer to catch him.

I have no idea where you work or what you earn, but if you are making $100K and all of a sudden there is $5million missing from your job and you show up to work in a Lambo people are going to look at you 1st to see where the money went.

-Dave

I think we do have to agree to disagree - while your point is right it's not really much of a response to mine, being that while this guy is clearly that idiot who took $5m and showed up in a lambo, people in Hollywood do much worse things in much smarter ways.

I do see things for how they are quite often. It is a bit depressing, sorry!

[DaveF]

Why not just produce the show and then invest the profits into Bitcoin afterward  What a stupid way to spend the money too. Hollywood though, I suppose it makes sense

Don't blame Hollywood for this. It's theft nothing more. No matter how much $ the film made there is no way someone who is not a A list well know director is going to get that much money.
And then you have those pesky things like taxes and everything else.

-Dave

What I meant is that it's not surprising for a story like this to come out of Hollywood. I'm not blaming Hollywood for this persons actions/theft, but it is no surprise that is where it took place, given the scandals and corrupt foundations which Hollywood are built on.

Guess we are going to have to agree to disagree on this one.

You see things like this all the time.

People making X steal 10X and get caught. Funny part is a lot of the time even if they didn't get caught on the theft the fact that they have 10X what they should gets them tripped up in taxes and other things. Think Aldrich Ames, yes he was a traitor but had he not been out spending all the $ he got it probably would have taken longer to catch him.

I have no idea where you work or what you earn, but if you are making $100K and all of a sudden there is $5million missing from your job and you show up to work in a Lambo people are going to look at you 1st to see where the money went.

-Dave

I think we do have to agree to disagree - while your point is right it's not really much of a response to mine, being that while this guy is clearly that idiot who took $5m and showed up in a lambo, people in Hollywood do much worse things in much smarter ways.

I do see things for how they are quite often. It is a bit depressing, sorry!

I'll admit my brain works a bit different then most peoples on this, but due to a financial background in addition to IT work it's just that I put most financial crimes in one pile and just about all other crime in another.

Unless you are talking about a small business pocketing a bit of cash here and there to avoid taxes.

When I was in school back in the 1980s I was taught and you can see that it is still true today when it comes to money crimes above a certain amount you are going to get caught. You might not get prosecuted criminally at 1st BUT you took money from someone. You are going to get your ass sued. And once the civil lawsuits start, THEN the criminal ones usually follow because local law enforcement has to look good.

https://huntingtonnow.com/developer-arrested-on-charge-of-issuing-a-bad-check/

Out local Republican boys club protected him and gave him a ton of money till it all came out:

https://www.thenorthshoreleader.com/single-post/local-law-7-huntington-pols-1-4m-gift-to-fraudster-derosa

It is what it is, but had he just driven drunk and smuggled drugs it could have been swept under the rug. Once it hit this point it could not.

 
-Dave

[yhiaali3]

We have a popular saying in my country: "Everything that's free, make it bigger." This means that since these are five free cars (meaning they're stolen money), he won't pay anything out of his own pocket. It's all Netflix money. So why doesn't he buy more and more?

I'm surprised by these scammers. They're usually very clever at stealing, but they're stupid when it comes to spending money. They often make mistakes that draw attention to themselves. These luxury items he spent on are sure to attract attention and serve as evidence against him in court.

In any case, he'll get his due punishment and spend many years in prison while enjoying some fun with the stolen money.

[Z-tight]

I'm surprised by these scammers. They're usually very clever at stealing, but they're stupid when it comes to spending money.

There is nothing clever in this case anyway, the Hollywood director didn't use any kind of social engineering or trick to get the money, lol, he was handed the money for a show, that is even what makes the whole thing funny. So he decided to embezzle money that was handed to him with proof, that's why many would think he'll pass for being crazy.

[SFR10]

Is there any new information about this?

A couple of days back, he pleaded not guilty to money laundering and fraud charges ^[source] and despite what zasad@ said in the latter part of his/her opening posts, the judge who's handling the case said he could face up to twenty years only in prison ^{[as a whole]} and labeled "sentencing guidelines as wholly irrational"!

[zasad@]

I might add that if this case goes to a jury, the Hollywood director has very little chance.

We are not familiar with the case materials, but there are a lot of financial traces in this case that will be used on the prosecution side.

[zasad@]

If you liked first story, I have another one

https://www.coindesk.com/policy/2025/04/17/crypto-casino-founder-richard-kim-arrested-after-gambling-away-investor-funds

"Former Galaxy, Goldman and JP Morgan executive Richard Kim was arrested this week on charges that he lost close to $7 million, much of it to misappropriation.
Kim told CoinDesk last year he gambled away $3.67 million of his investors' funds from his firm Zero Edge.
Kim posted a $250,000 bond, according to court documents. "

[sokani]

If you liked first story, I have another one

https://www.coindesk.com/policy/2025/04/17/crypto-casino-founder-richard-kim-arrested-after-gambling-away-investor-funds

"Former Galaxy, Goldman and JP Morgan executive Richard Kim was arrested this week on charges that he lost close to $7 million, much of it to misappropriation.
Kim told CoinDesk last year he gambled away $3.67 million of his investors' funds from his firm Zero Edge.
Kim posted a $250,000 bond, according to court documents. "

What he said about losing $80k to a phishing site looks like a cock and bull story because he also admitted being a gambling addict until he turned his life around. So the phishing site claim might just be a cover story to attract some sort of pity. I'm guessing when investors raised $7 million dollars that was supposed to be the seed fund for Zero Edge, he felt he could flip the money and make some profits but it didn't go the way he planned and he lost more than half of it.

[FP91G]

Hollywood Director Guilty of Scamming Netflix out of $11M, Spending It on Crypto
“47 Ronin” director Carl Rinsch faces a maximum prison sentence of up to 90 years, having been found guilty on seven separate charges.

Carl Rinsch, who directed Keanu Reeves in the 2013 film “47 Ronin,” has been found guilty of wire fraud and money laundering.
Prosecutors alleged that Rinsch misappropriated $11 million received from Netflix, using the funds in part to buy cryptocurrency.
An earlier report claimed that the director had actually turned a $4 million investment in Dogecoin into $27 million, but had then proceeded to spend much of his profits on luxury goods.
Link

[SuperBitMan]

What was he actually thinking that they won't be able to get him arrested or what, why are some set of people always getting themselves into trouble now surly he will be sentenced, in my country the numbers of years he will spend in prison will be determined by the judge after looking at the crime he committed but surly in my country he will get 14 years or more in prison.
What got me annoyed was the fact he didn't even use the money for something better why buying that five Rolls Royces I think he has a mental issues because what is the reason why he decided to buy five Rolls Royces, well he should be dreaming about it in prison, he will be sentenced there's no ignorance before the law.

[SFR10]

in my country the numbers of years he will spend in prison will be determined by the judge after looking at the crime he committed but surly in my country he will get 14 years or more in prison.

The same thing will happen to this case in four months' time and based on the link FP91G provided, he could be spending up to 90 years in prison... Having said that, I have a feeling he'd get less than 10% of that ^{[in addition to a hefty fine]}.

why buying that five Rolls Royces I think he has a mental issues because what is the reason why he decided to buy five Rolls Royces,

He probably purchased those as a collectible item... Some people enjoy collecting similar items and it doesn't necessarily have to be something that appreciates in value.