Overview
- Jurors found the 47 Ronin director guilty of wire fraud, money laundering and five illegal monetary‑transaction counts after less than five hours of deliberation.
- Prosecutors showed he moved a $11 million production payment into personal accounts, lost roughly half on risky options trades, shifted funds into crypto and then spent profits on luxury cars, mattresses, watches and other personal expenses.
- The conviction stems from funds advanced in March 2020 to finish the sci‑fi series White Horse/Conquest, which was never delivered.
- Former Netflix executives Cindy Holland and Peter Friedlander testified about the deal terms and the expectation that the money would complete the first season.
- Netflix had already invested about $44 million and later wrote off more than $55 million, and it won a roughly $12 million arbitration award in 2024 related to the failed project.