Latest news with #TheWeinsteinCo.
USA Today
18-02-2025
- Business
- USA Today
Harvey Weinstein sues brother Robert, business associates over $45M loan
Hear this story Despite his ongoing legal woes, Harvey Weinstein is waging a new court battle over a multimillion-dollar loan he signed in 2016. The embattled movie mogul, who is awaiting a retrial on his overturned 2020 rape conviction, filed a lawsuit Thursday against his brother Robert and other business associates in New York County Supreme Court, according to court documents obtained Monday by USA TODAY. In the 22-page complaint, Weinstein claims Robert and his associates at The Weinstein Company committed fraud after he became the guarantor on a $45 million loan from AI International Holdings (BVI) Limited. The Oscar-winning producer alleges funds from the loan were "pilfered and misappropriated for their own uses and benefits, in blatant violation of the loan's intended purpose." Co-founded by the Weinstein brothers in 2005, The Weinstein Co. was an independent film production and distribution company that helped produce box-office hits such as "Django Unchained," "Silver Linings Playbook," "Inglourious Basterds" and "Paddington." The company filed for bankruptcy in 2018 after numerous allegations of sexual harassment and rape were made against Weinstein. In addition to his brother Robert, Weinstein is suing Weinstein Co. associates David Glasser, Irwin Reiter and a group of 10 John and Jane Does. Glasser served as chief operating officer, while Reiter worked as the executive vice president of accounting and financial reporting. Need a break? Play the USA TODAY Daily Crossword Puzzle. Weinstein, who was "solely liable for repayment" of the loan, is seeking compensatory and punitive damages, as well as injunctive relief to be determined at trial. The lawsuit comes just three months after Weinstein and his legal team filed a $5 million claim notice against Rikers Island Correctional Facility, Bellevue Hospital and New York City officials, accusing the parties of negligent care in attending to the movie mogul's various health issues while he remains in custody. 'Feared for his life':Harvey Weinstein threatens to sue for medical neglect while in jail Harvey Weinstein alleges 2016 loan was misused for 'personal purposes' According to Weinstein's lawsuit, the film producer's brother and business partners had a history of misusing company funds, including the 2016 loan from AI International. Although funds from the $45 million advance were reportedly solely designated for "legitimate business purposes essential to" The Weinstein Co.'s operations, Weinstein claims "significant portions" of the loan were instead used to pay for "unauthorized and personal purposes, including bonuses, unrelated business ventures, and personal expenses." Citing past financial records, Weinstein alleges Robert Weinstein "withdrew or received at least $2.2 million in personal advances and loans from The Weinstein Company Holdings LLC, between August 2017 and February 2018," despite mounting fiscal troubles and outstanding "debt obligations." "These self-serving financial extractions were made while creditors, including AI International, remained unpaid, and the companies faced imminent collapse," the lawsuit states. "The timing and pattern of these payments demonstrate a willful disregard for financial responsibilities, supporting the allegations of fraudulent inducement and misappropriation." Harvey Weinstein:Movie mogul 'begging' for earlier retrial, 'holding on' amid health issues Weinstein accuses Glasser and Reiter of similar financial misconduct in the complaint. Glasser purportedly "engaged in a systematic pattern of self-enrichment," which allegedly included authorizing a $1 million payment to his father using company funds. Meanwhile, Reiter — who purportedly had regular access to financial records in his executive role — allegedly failed to prevent "the self-dealing and misappropriations" of loan funds and "actively participated in the approval, facilitation, and concealment of improper financial transactions." The defendants "wrongfully diverted and misappropriated the loan funds for their own benefit, engaging in a deliberate scheme of self-dealing and mismanagement that left the companies financially drained and unable to meet their obligations," the lawsuit states. Attorneys for Robert Weinstein, Glasser and Reiter were not available for comment at the time of publication. Harvey Weinstein calls brother's loan settlement a 'self-serving agreement' The Weinstein Co.'s inability to pay the AI International loan led to settlement negotiations with the company led by Robert Weinstein and Glasser. Weinstein alleges in his lawsuit that the settlement, which left him financially responsible for the approximately $30 million total on the loan (including interest), was "conducted with fraudulent and disloyal intentions." Defendants "reached a self-serving agreement with AI International to settle the debt for a significantly discounted payment of approximately $15 million," the lawsuit states. "Under this settlement, third-party defendants secured a release from liability for the loan while intentionally leaving Weinstein exposed to the full balance of the loan." Weinstein is in ongoing litigation with AI International in a separate lawsuit after the company filed a complaint seeking to hold him responsible for the loan's repayment. "Weinstein was wrongfully left solely liable for the loan's repayment when AI International demanded payment," the lawsuit concludes. "Defendants' fraudulent actions have caused Weinstein severe financial damages, as well as reputational harm resulting from their reckless and unlawful conduct." Contributing: Andrea Mandell, KiMi Robinson and Taijuan Moorman, USA TODAY
Yahoo
14-02-2025
- Business
- Yahoo
Harvey Weinstein says he was duped into guaranteeing $45M loan, sues brother and other movie execs
Jailed and disgraced movie mogul Harvey Weinstein alleges in a new lawsuit that his brother, Bob Weinstein, and other executives at their now-defunct film company duped him into guaranteeing a $45 million loan in 2016, but diverted funds for their own personal use while setting the stage for his downfall. Harvey Weinstein, 72, filed the claims Thursday in a long-running civil case in New York City involving a lender accusing him of defaulting on the loan. He is currently detained while awaiting a retrial on sex crimes charges in New York. 'Harvey Weinstein was deceived by those closest to him, and secured a $45 million dollar loan under the pretense of saving The Weinstein Company,' Imran Ansari, Harvey Weinstein's lawyer, said in a statement. 'While Harvey personally guaranteed the loan, others within The Weinstein Company enriched themselves and strategically undermined him, leaving him 'holding the bag' of debt while 'lining their pockets' when the company was in crisis.' See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Ansari alleged Bob Weinstein and others at The Weinstein Co. were in on a plot to position Harvey Weinstein for a downfall in an attempt to seize control of the company, which went bankrupt in 2018 as the sexual misconduct scandal surrounding Harvey Weinstein exploded. An attorney for Bob Weinstein, Brian Kohn, replied with a brief statement Friday saying, 'Harvey's allegations are entirely without merit,' in an email to The Associated Press. Former Weinstein Co. chief operating officer David Glasser, now chief executive of 101 Studios, known for its production of Paramount's popular series 'Yellowstone,' is also named in Harvey Weinstein's lawsuit. He did not immediately return a phone message left at his office Friday. AI International Holdings loaned the money to two affiliates of The Weinstein Co. and Harvey Weinstein, and later sued when it said they defaulted. Harvey Weinstein alleges that his brother, Glasser and others duped him into guaranteeing the $45 million loan by saying the money would help the financially struggling company. Instead, his lawsuit says, they diverted millions of dollars from the company for improper purposes, leaving it short on cash and Harvey Weinstein liable for repaying the loan. 'As a direct result of these actions, the Companies were drained of, at the very least, $12 million in cash that should have been allocated to repay the Loan owed to AI International,' the lawsuit says. 'This mismanagement left the Companies unable to satisfy their financial obligations, resulting in insolvency and placing Weinstein at substantial personal financial risk as the guarantor of the Loan.' The lawsuit, filed in the state Supreme Court in Manhattan, says Weinstein was made to suffer 'severe and outrageous financial and reputational harm.' It also makes several allegations of financial misconduct against Bob Weinstein, Glasser and others. It accuses Bob Weinstein of withdrawing at least $6 million from company accounts under false pretenses, to give himself priority over creditors including AI International. The lawsuit alleges Glasser approved and received $5 million in excessive bonuses and unauthorized financial transactions, and used company funds to pay his father $1 million despite no legitimate business reason. AI International Holdings sued Harvey Weinstein and the two affiliates of The Weinstein Co. in late 2017. The lawsuit said they defaulted on the loan after AI International had ordered the entire balance to be paid immediately because Harvey Weinstein had been dismissed as co-chairman amid the sexual misconduct allegations. According to Harvey Weinstein, Bob Weinstein and Glasser settled their liability for the loan with AI International for about $15 million due to 'bad faith negotiations,' leaving Harvey Weinstein responsible for the remaining $30 million plus interest. Harvey Weinstein's lawsuit seeks to shield him from any financial liability for the loan, as well as punitive damages for alleged fraud and financial misconduct and his legal fees. Bob Weinstein recently asked the judge to reject subpoenas for documents and a deposition issued by Harvey Weinstein's lawyer. Harvey Weinstein, who also co-founded the film company Miramax, was once one of the most powerful people in Hollywood, having produced films such as 'Pulp Fiction' and 'The Crying Game.' In 2017, he became the most prominent villain of the #MeToo movement, which erupted when women began going public with accounts of his behavior. He has long maintained that any sexual activity was consensual. Harvey Weinstein is being retried on charges that he forcibly performed oral sex on a movie and TV production assistant in 2006 and raped an aspiring actor in 2013. Another charge filed in September alleges he forced oral sex on a different woman at a Manhattan hotel in 2006. His 2020 conviction and 23-year prison sentence were overturned last year, as an appeals court found the trial judge unfairly allowed testimony against Weinstein based on allegations that weren't part of the case.
The Independent
14-02-2025
- Business
- The Independent
Harvey Weinstein says he was duped into guaranteeing $45M loan, sues brother and other movie execs
Jailed and disgraced movie mogul Harvey Weinstein alleges in a new lawsuit that his brother, Bob Weinstein, and other executives at their now-defunct film company duped him into guaranteeing a $45 million loan in 2016, but diverted funds for their own personal use while setting the stage for his downfall. Harvey Weinstein, 72, filed the claims Thursday in a long-running civil case in New York City involving a lender accusing him of defaulting on the loan. He is currently detained while awaiting a retrial on sex crimes charges in New York. 'Harvey Weinstein was deceived by those closest to him, and secured a $45 million dollar loan under the pretense of saving The Weinstein Company,' Imran Ansari, Harvey Weinstein's lawyer, said in a statement. 'While Harvey personally guaranteed the loan, others within The Weinstein Company enriched themselves and strategically undermined him, leaving him 'holding the bag' of debt while 'lining their pockets' when the company was in crisis.' Ansari alleged Bob Weinstein and others at The Weinstein Co. were in on a plot to position Harvey Weinstein for a downfall in an attempt to seize control of the company, which went bankrupt in 2018 as the sexual misconduct scandal surrounding Harvey Weinstein exploded. An attorney for Bob Weinstein, Brian Kohn, replied with a brief statement Friday saying, 'Harvey's allegations are entirely without merit,' in an email to The Associated Press. Former Weinstein Co. chief operating officer David Glasser, now chief executive of 101 Studios, known for its production of Paramount's popular series 'Yellowstone,' is also named in Harvey Weinstein's lawsuit. He did not immediately return a phone message left at his office Friday. AI International Holdings loaned the money to two affiliates of The Weinstein Co. and Harvey Weinstein, and later sued when it said they defaulted. Harvey Weinstein alleges that his brother, Glasser and others duped him into guaranteeing the $45 million loan by saying the money would help the financially struggling company. Instead, his lawsuit says, they diverted millions of dollars from the company for improper purposes, leaving it short on cash and Harvey Weinstein liable for repaying the loan. 'As a direct result of these actions, the Companies were drained of, at the very least, $12 million in cash that should have been allocated to repay the Loan owed to AI International,' the lawsuit says. 'This mismanagement left the Companies unable to satisfy their financial obligations, resulting in insolvency and placing Weinstein at substantial personal financial risk as the guarantor of the Loan.' The lawsuit, filed in the state Supreme Court in Manhattan, says Weinstein was made to suffer 'severe and outrageous financial and reputational harm.' It also makes several allegations of financial misconduct against Bob Weinstein, Glasser and others. It accuses Bob Weinstein of withdrawing at least $6 million from company accounts under false pretenses, to give himself priority over creditors including AI International. The lawsuit alleges Glasser approved and received $5 million in excessive bonuses and unauthorized financial transactions, and used company funds to pay his father $1 million despite no legitimate business reason. AI International Holdings sued Harvey Weinstein and the two affiliates of The Weinstein Co. in late 2017. The lawsuit said they defaulted on the loan after AI International had ordered the entire balance to be paid immediately because Harvey Weinstein had been dismissed as co-chairman amid the sexual misconduct allegations. According to Harvey Weinstein, Bob Weinstein and Glasser settled their liability for the loan with AI International for about $15 million due to 'bad faith negotiations,' leaving Harvey Weinstein responsible for the remaining $30 million plus interest. Harvey Weinstein's lawsuit seeks to shield him from any financial liability for the loan, as well as punitive damages for alleged fraud and financial misconduct and his legal fees. Bob Weinstein recently asked the judge to reject subpoenas for documents and a deposition issued by Harvey Weinstein's lawyer. Harvey Weinstein, who also co-founded the film company Miramax, was once one of the most powerful people in Hollywood, having produced films such as 'Pulp Fiction' and 'The Crying Game.' In 2017, he became the most prominent villain of the #MeToo movement, which erupted when women began going public with accounts of his behavior. He has long maintained that any sexual activity was consensual. Harvey Weinstein is being retried on charges that he forcibly performed oral sex on a movie and TV production assistant in 2006 and raped an aspiring actor in 2013. Another charge filed in September alleges he forced oral sex on a different woman at a Manhattan hotel in 2006. His 2020 conviction and 23-year prison sentence were overturned last year, as an appeals court found the trial judge unfairly allowed testimony against Weinstein based on allegations that weren't part of the case.
Associated Press
14-02-2025
- Business
- Associated Press
Harvey Weinstein says he was duped into guaranteeing $45M loan, sues brother and other movie execs
Jailed and disgraced movie mogul Harvey Weinstein alleges in a new lawsuit that his brother, Bob Weinstein, and other executives at their now-defunct film company duped him into guaranteeing a $45 million loan in 2016, but diverted funds for their own personal use while setting the stage for his downfall. Harvey Weinstein, 72, filed the claims Thursday in a long-running civil case in New York City involving a lender accusing him of defaulting on the loan. He is currently detained while awaiting a retrial on sex crimes charges in New York. 'Harvey Weinstein was deceived by those closest to him, and secured a $45 million dollar loan under the pretense of saving The Weinstein Company,' Imran Ansari, Harvey Weinstein's lawyer, said in a statement. 'While Harvey personally guaranteed the loan, others within The Weinstein Company enriched themselves and strategically undermined him, leaving him 'holding the bag' of debt while 'lining their pockets' when the company was in crisis.' Ansari alleged Bob Weinstein and others at The Weinstein Co. were in on a plot to position Harvey Weinstein for a downfall in an attempt to seize control of the company, which went bankrupt in 2018 as the sexual misconduct scandal surrounding Harvey Weinstein exploded. An attorney for Bob Weinstein, Brian Kohn, replied with a brief statement Friday saying, 'Harvey's allegations are entirely without merit,' in an email to The Associated Press. Former Weinstein Co. chief operating officer David Glasser, now chief executive of 101 Studios, known for its production of Paramount's popular series 'Yellowstone,' is also named in Harvey Weinstein's lawsuit. He did not immediately return a phone message left at his office Friday. AI International Holdings loaned the money to two affiliates of The Weinstein Co. and Harvey Weinstein, and later sued when it said they defaulted. Harvey Weinstein alleges that his brother, Glasser and others duped him into guaranteeing the $45 million loan by saying the money would help the financially struggling company. Instead, his lawsuit says, they diverted millions of dollars from the company for improper purposes, leaving it short on cash and Harvey Weinstein liable for repaying the loan. 'As a direct result of these actions, the Companies were drained of, at the very least, $12 million in cash that should have been allocated to repay the Loan owed to AI International,' the lawsuit says. 'This mismanagement left the Companies unable to satisfy their financial obligations, resulting in insolvency and placing Weinstein at substantial personal financial risk as the guarantor of the Loan.' The lawsuit, filed in the state Supreme Court in Manhattan, says Weinstein was made to suffer 'severe and outrageous financial and reputational harm.' It also makes several allegations of financial misconduct against Bob Weinstein, Glasser and others. It accuses Bob Weinstein of withdrawing at least $6 million from company accounts under false pretenses, to give himself priority over creditors including AI International. The lawsuit alleges Glasser approved and received $5 million in excessive bonuses and unauthorized financial transactions, and used company funds to pay his father $1 million despite no legitimate business reason. AI International Holdings sued Harvey Weinstein and the two affiliates of The Weinstein Co. in late 2017. The lawsuit said they defaulted on the loan after AI International had ordered the entire balance to be paid immediately because Harvey Weinstein had been dismissed as co-chairman amid the sexual misconduct allegations. According to Harvey Weinstein, Bob Weinstein and Glasser settled their liability for the loan with AI International for about $15 million due to 'bad faith negotiations,' leaving Harvey Weinstein responsible for the remaining $30 million plus interest. Harvey Weinstein's lawsuit seeks to shield him from any financial liability for the loan, as well as punitive damages for alleged fraud and financial misconduct and his legal fees. Bob Weinstein recently asked the judge to reject subpoenas for documents and a deposition issued by Harvey Weinstein's lawyer. Harvey Weinstein, who also co-founded the film company Miramax, was once one of the most powerful people in Hollywood, having produced films such as 'Pulp Fiction' and 'The Crying Game.' In 2017, he became the most prominent villain of the #MeToo movement, which erupted when women began going public with accounts of his behavior. He has long maintained that any sexual activity was consensual. Harvey Weinstein is being retried on charges that he forcibly performed oral sex on a movie and TV production assistant in 2006 and raped an aspiring actor in 2013. Another charge filed in September alleges he forced oral sex on a different woman at a Manhattan hotel in 2006. His 2020 conviction and 23-year prison sentence were overturned last year, as an appeals court found the trial judge unfairly allowed testimony against Weinstein based on allegations that weren't part of the case.
