'47 Ronin' director Carl Rinsch was given millions to develop a sci-fi series for Netflix- a series that will never see the light of day.

It was revealed that Rinsch allegedly spent some of the $55 million provided by Netflix on stocks and Dogecoin, before spending more money on sports cars and luxury goods.

Netflix has since cancelled the planned 13-episode series.

Flicks.co.nz editor Steve Newall says Rinsch had been described as 'erratic' before signing on with Netflix.

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