In November 2018, 46-year-old director Carl Erik Rinsch signed a contract with Netflix to produce a series called Conquest. The company allocated tens of millions of dollars for the filming, but Rinsch spent a significant portion of this amount on luxury goods, bets on the stock market and investments in Dogecoin.

Note that examples of serious investments in DOGE are already known within the cryptocurrency community. In particular, at the end of 2020, a US resident named Glauber Contessoto invested all his savings in the amount of $250 thousand in Dogecoin. The timing for the investment was chosen well, since at that time DOGE’s senseless PR was voiced by Tesla CEO Elon Musk.

As a result, at the peak of cryptocurrency growth, the investor’s portfolio was valued at $2.9 million. However, Glauber decided to act like novice investors and did not sell the coins. Therefore, by the end of August 2023, the amount of DOGE at the investor’s disposal was estimated at only $50 thousand.

Despite the terrible investment experience, Contessoto is confident of DOGE’s continued growth as the cryptocurrency allegedly becomes the primary means of payment on Twitter. And although digital assets will clearly rise in price as the bull run approaches, it is too risky to make such a bet on one asset.

However, this is not the first mistake in the life of this investor. Well, as a new story with a Netflix representative shows, not all DOGE investors do not know how to sell coins on time.

Netflix initially allocated $44 million for the project, but in March 2020, Rinsch demanded another $11 million for “additional expenses.” This tranche was also approved by the company, bringing the total expenditure to 55 million.

However, to date, the film crew has not even been able to release the pilot episode of the series. Moreover, this is the direct fault of the director.

Instead of using the funds for their intended purpose, Rinsch invested $10.5 million in shares on the stock market. He clearly had little knowledge of investments, since his investments ultimately resulted in a loss of $6 million in just a few weeks.

To recoup, the director switched to the crypto market and transferred $4 million to the Kraken exchange. This time Rinsch bet on Dogecoin, and luck still smiled on him. According to CryptoPotato sources, in May 2021, Rinsch made a large withdrawal from the exchange, having previously earned as much as $27 million from the growth of the DOGE digital asset.

As a result, the director made good money and began to actively spend money. In particular, for $9 million he purchased a variety of luxury items, including luxury furniture, designer clothes, watches worth more than $380 thousand, five Rolls-Royce cars and a Ferrari. What’s most interesting is that these expenses were initially discovered during the divorce proceedings by an accountant hired by Rinsch’s ex-wife.

To date, Rinsch has filed a legal dispute against Netflix, claiming breach of contract and seeking $14 million in damages. Netflix management denies having any obligations to Rinsch, characterizing his demands as “extortion.”

The director’s main argument is that the $9 million he earned from Dogecoin, which he spent after a successful investment, was actually used to purchase props for the filming of Conquest. Accordingly, he wants to get his own assets back, which is quite strange considering the way these funds are earned.