Netflix reportedly wrote off $55 million on Conquest, a science-fiction series that was never completed for release. That figure is not the same as the $11 million at the center of the later criminal case against writer-director Carl Erik Rinsch: prosecutors said he diverted a separate additional Netflix payment intended to help finish the project. Rinsch was convicted in December 2025 and sentenced to 2½ years in prison in June 2026.
What was Netflix’s unreleased show Conquest?
Conquest began under the title White Horse and was developed by writer-director Carl Erik Rinsch. TheWrap described its premise as artificial humans called “Organic Intelligent.” In its November 2023 account, TheWrap reported that Rinsch had made six short pieces, each reportedly four to 10 minutes long, to pitch streamers a 120-minute, 13-episode season. Those pieces were not completed episodes of the planned series; TheWrap reported that no episodes were finished as a series.
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Netflix became involved after production was already underway, according to TheWrap. The project was never completed for release, so there is no finished season that viewers can watch. TheWrap’s 2023 account of Conquest provides the reporting on the project’s development and production.
Why did Netflix write off $55 million?
TheWrap reported in November 2023 that Netflix wrote off $55 million on the unfinished project. Netflix said it had provided additional funding and other support to try to complete the series, but concluded that Rinsch would not deliver the project he had agreed to make. A spokesperson told TheWrap: “’Conquest’ was brought to Netflix partway through production. We gave substantial additional funding and other support to help complete the series. After a lot of time and effort, it became clear that Mr. Rinsch was never going to complete the project he agreed to make and so we wrote the project off.”
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TheWrap also reported that Netflix suspended funding in March 2021. The $55 million is a reported project write-off, not an independently verified audited figure and not the amount of the later criminal case. It describes Netflix’s overall reported loss on the unfinished project, rather than a completed series or a consumer product that generated sales.
How the $55 million write-off differs from the $11 million criminal case
The later case focused on a particular additional payment, not the entire reported write-off. The Associated Press reported that prosecutors said Netflix paid about $44 million for the unfinished White Horse project in 2018 and 2019, then sent another $11 million in 2020 after Rinsch said more money was needed to finish it. Prosecutors said he diverted that additional payment to a personal account and used it for investments and personal purchases. Trial evidence summarized by AP addressed that payment and its use.
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| Figure | What it refers to | Attribution and qualification |
|---|---|---|
| $55 million | Reported write-off for the unfinished Conquest project | TheWrap, November 2023; a reported project write-off, distinct from the criminal-case amount. |
| About $44 million | Netflix payments for the unfinished White Horse project in 2018 and 2019 | Prosecutors’ account as reported by AP in 2026. |
| $11 million | Additional Netflix payment in 2020 that prosecutors said Rinsch diverted | Prosecutors’ account as reported by AP; the payment at issue in the criminal case. |
| About $11 million | Restitution prosecutors said Rinsch owed at sentencing | AP’s June 2026 sentencing report; it does not establish whether the money was actually collected. |
The amounts describe different things and come from different reporting about the project and case. Adding them together as if they were separate proven losses, or describing the $55 million write-off as the criminal loss, would blur that distinction.
What happened in the criminal case?
In December 2025, a jury convicted Rinsch of wire fraud, money laundering and other charges, according to AP. The conviction followed the government’s case about the separate $11 million payment; the allegations about what happened to that money should not be confused with Netflix’s explanation for writing off the production.
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After the verdict, Rinsch’s attorney, Benjamin Zeman, said he believed it was wrong and argued it “could set a dangerous precedent for artists who become embroiled in contractual and creative disputes with their benefactors.” That was the defense’s response, not the jury’s conclusion. AP’s reports on the conviction and trial describe the government’s case and the verdict.
Sentence and restitution
On June 29, 2026, U.S. District Judge Jed S. Rakoff sentenced Rinsch to 2½ years in prison. AP reported that prosecutors said he owed about $11 million in restitution. A restitution order or reported amount owed does not by itself show that Netflix has recovered the money.
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AP reported that Rinsch apologized at sentencing and acknowledged that “real harm was caused.” The judge said Rinsch’s mental-health difficulties “may explain some of the excesses” but did not “detract from the court’s conclusion that he was determined to lie to get substantial monies from Netflix, lie to cover it up.” These were remarks at sentencing; they are distinct from Netflix’s public account of why it wrote off the show. AP’s sentencing report covers the prison term and restitution figure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Did Netflix get the money back?
AP reported that prosecutors said Rinsch owed about $11 million in restitution when he was sentenced in June 2026. That establishes an amount reported as owed, not that Netflix had received payment. The cited reporting does not establish actual collection or any later appeal outcome.
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TheWrap also reported a separate historical contract and arbitration dispute: Rinsch claimed Netflix owed him $14 million, while Netflix denied owing him money. That dispute is distinct from the criminal prosecution, and the cited account does not establish its later status.
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