Netflix spent $55M developing a sci-fi series they bought from director Carl Rinsch in 2018

Netflix bought a sci-fi series from director Carl Rinsch in 2018 and spent $55M developing it   

Not a single episode has been finished  

Instead, the director has reportedly spent $11M of Netflix’s money gambling on risky stocks and buying dogecoin, which he flipped for $27M

After that, he went on a spending spree, buying 5 Rolls-Royces, a Ferrari, furniture, and designer clothing

The only feature film he’s directed prior to this was ’47 Ronin’ which has a 16% on Rotten Tomatoes.

In a record-shattering deal at the European Film Market, Netflix has forked out a reported $55 million to pre-buy worldwide rights to the Christian Bale-led gothic horror-thriller “The Pale Blue Eye”.

The project marks a re-teaming of Bale and his “Out of the Furnace” and “Hostiles” director Scott Cooper and is an adaptation of the Louis Bayard novel of the same name.

The “large-canvas whodunit” thriller revolves around the attempt to solve a series of murders that took place in 1830 at the U.S. Military Academy at West Point.

By mid-2021, Roses informed Netflix executives about Rinsch’s state and filed for divorce, the Times reported. Netflix consulted police about Rinsch’s behavior before deciding to stop funding the project in March 2021, though he could shop it elsewhere. Rinsch made $27 million on crypto bets, which he used to buy Rolls-Royces and luxury items. He claims Netflix owes him $14 million more, while Netflix says he never delivered the project milestones to receive additional funding. The confidential arbitration case over the contract dispute concluded this month.

Bale plays the investigating veteran detective and is aided by a detail-oriented young cadet named Edgar Allan Poe (who went in to basically invent the detective fiction genre and was a major influence on sci-fi and horror).

Cooper scripts the adaptation while Bale will produce with Cooper, John Lesher and Tyler Thompson for Cross Creek Pictures. Shooting begins this Fall once Bale has finished both the untitled David O. Russell film and his villain role in Marvel Studios’ “Thor: Love And Thunder”.