Pakistan, March 19 -- Carl Erik Rinsch, a Hollywood writer-director, was arrested on Tuesday for defrauding Netflix of $11 million. He is best known for directing the film 47 Ronin. Authorities allege Rinsch used the funds for personal expenses instead of completing his sci-fi series, White Horse, which never aired.

Netflix initially paid Rinsch $44 million for the series. After asking for an additional $11 million, Netflix approved the funds. However, Rinsch allegedly transferred the money to his personal account instead of finishing the show. Within two months, he reportedly lost nearly half of the money in bad investments.

Subsequently, Rinsch shifted the remaining funds into cryptocurrency and secured a substantial profit. He then w...