Harvey Weinstein, the disgraced film mogul currently serving time, has filed a new lawsuit claiming that his brother Bob Weinstein, along with other executives from their now-defunct production company, misled him into guaranteeing a substantial loan of $45 million back in 2016. He alleges that these individuals misappropriated funds intended for the company, ultimately contributing to his downfall.
At 72 years old, Weinstein’s claims were formally presented in a civil case based in New York City, where he faces accusations from a lender asserting that he defaulted on the loan. Weinstein remains incarcerated while he awaits a retrial on various sex crime charges.
According to Weinstein’s attorney, Imran Ansari, the film mogul was “deceived by those closest to him” and that the loan he guaranteed was meant to save The Weinstein Company. However, Ansari asserts that while Weinstein took on the financial burden, others within the organization enriched themselves and purposely undermined him, leaving him to manage the mounting debt amid a crisis.
The lawsuit implicates Bob Weinstein and other company executives in orchestrating a plot designed to facilitate Harvey’s downfall in order to gain control over the company, which filed for bankruptcy in 2018 amidst the fallout from the sexual misconduct allegations against Harvey Weinstein.
In response to the allegations, an attorney representing Bob Weinstein, Brian Kohn, issued a statement declaring that the accusations lack merit.
David Glasser, the former chief operating officer of The Weinstein Company and current head of 101 Studios, is also named in Weinstein’s lawsuit. Efforts to contact Glasser for comment were unsuccessful at the time of reporting.
AI International Holdings extended the loan to two affiliates of The Weinstein Company along with Harvey Weinstein himself and subsequently filed suit when they claimed a default occurred. According to the lawsuit, Harvey was led to believe that the loan would assist the financially troubled company, only to discover that millions had been siphoned off for improper uses, leaving the company in dire financial straits and him personally liable for repayment.
The lawsuit outlines that these actions drained the company of “at least $12 million” that should have been designated for the loan repayment, driving the company toward insolvency and putting Weinstein in a precarious financial position as the loan guarantor.
In detailing his claims, Weinstein’s lawsuit states he suffered significant financial and reputational damage due to the alleged misconduct. It makes various accusations of financial impropriety against Bob Weinstein, Glasser, and others involved.
It is contended that Bob Weinstein withdrew over $6 million from company accounts under false pretenses to prioritize his own interest over that of creditors, including AI International. Harvey expressed shock at discovering fraudulent activities he believes contributed to his own downfall after his departure from the company.
The suit also references Glasser’s approval of exorbitant bonuses, citing $5 million in excess compensation and the alleged misdirection of company funds to pay his father $1 million without any legitimate justification.
Following AI International’s lawsuit initiated in late 2017 due to claims of loan default following Harvey Weinstein’s dismissal as co-chairman, it is alleged that both Bob Weinstein and Glasser managed to settle their liability for approximately $15 million. This left Harvey responsible for the outstanding $30 million plus interest.
Through this lawsuit, Harvey Weinstein is seeking protection from any financial responsibility pertaining to the loan, while also demanding punitive damages due to the alleged fraud and mismanagement, as well as coverage for his legal expenses.
Recently, Bob Weinstein has sought to dismiss subpoenas for related documents and depositions requested by Harvey’s legal team.
Harvey Weinstein, a co-founder of the acclaimed film company Miramax and key figure in Hollywood for producing hits like “Pulp Fiction,” became infamous as a central figure in the #MeToo movement when numerous allegations of his misconduct came to light in 2017. Despite the allegations, he insists that any sexual interactions were consensual.
Weinstein is currently facing retrial on charges that include accusations of forcing oral sex on a production assistant in 2006 and raping an aspiring actress in 2013. Another recent charge claims he assaulted another woman at a Manhattan hotel in 2006. His 2020 conviction was overturned last year by an appeals court which determined that the presiding judge had improperly permitted certain testimonies not directly related to the case.
