ALLEGED $1.5M FRAUD: WITNESS TELLS COURT FUNDS CAME INTO DEFENDANT’S ACCOUNT IN MULTIPLE TRANCHES. (PHOTO). #PRESS RELEASE

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 Alleged $1.5m Fraud:   Witness Tells Court Funds Came into Defendant’s Account in Multiple Tranches The Economic and Financial Crimes Commission (EFCC) on Monday, June 29, 2026, presented its third prosecution witness (PW3), Levi Amanda Opice, a Compliance Officer with Guaranty Trust Bank (GTBank), in the ongoing trial of Ifoma Immanuel before Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, over an alleged $1.5 million fraud. Immanuel is standing trial alongside his company, Intermediate Investment Holdings Limited, on a two-count charge bordering on obtaining money by false pretence and forgery involving the sum of $1.5 million. According to the EFCC, investigations revealed that the defendant allegedly induced Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million by claiming that the funds would be used to finance projects linked to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited, and Chappal Ener...
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DIRECTOR CONVICTED OF $11M NETFLIX SCAM AND LAVISH SPENDING SPREE. (PHOTO).

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 Director convicted of $11M Netflix scam and lavish spending spree

 Hollywood director Carl Erik Rinsch was convicted Thursday of scamming Netflix out of $11 million intended for a television project that never came to fruition. Instead of using the funds to complete the sci-fi show “White Horse,” prosecutors said Rinsch spent the money on extravagant personal purchases, including five Rolls-Royces, a Ferrari, luxury watches, designer clothing, and approximately $1 million on mattresses and high-end bedding. Rinsch, 48, was found guilty of wire fraud, money laundering, and related charges.

According to prosecutors, Netflix had initially invested around $44 million in the production and provided an additional $11 million at Rinsch’s request to finish the project. Rather than applying the funds to production, Rinsch funneled the money into personal accounts, making a series of failed investments that quickly depleted about half of the $11 million. He later invested some of the remainder in cryptocurrency, yielding modest gains, which he also diverted to his own account. Additional spending included $1.8 million to settle credit card debts. Rinsch’s attorney argued that the verdict could set a concerning precedent for artists involved in creative or contractual disputes with major media companies. The director never completed “White Horse,” and his sentencing is scheduled for April. U.S. authorities emphasized that the conviction demonstrates their commitment to pursuing those who defraud investors and misappropriate funds.


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