Harvey Weinstein is suing his brother Bob Weinstein and other executives at their former film company The Weinstein Company over a $45 million loan guarantee. Weinsenstein, 72, claims he was misled into giving up his personal assets to secure the loan in 2016, which was used for personal gain by others.
Weinstein’s lawyer says that his client was deceived by those closest to him and was left “holding the bag” of debt while others enriched themselves. The lawsuit alleges that Bob Weinstein and other executives at The Weinstein Company orchestrated a plot to position Weinstein for a downfall in order to seize control of the company.
The loan was taken out from AI International Holdings, which later sued Weinstein and his company after alleging default. However, Weinstein claims that he was made to bear the brunt of the financial burden due to the mismanagement of funds by his brother and others.
Weinstein’s lawsuit seeks to shield him from any further financial liability for the loan, as well as punitive damages for alleged fraud and financial misconduct. This is not the first time Weinstein has faced financial troubles, as he was ordered to pay $20 million in 2017 following a settlement with victims of his alleged abuse.
Source: https://apnews.com/article/harvey-weinstein-lawsuit-loan-bob-weinstein-59a41427c091c9069c1dc8855fbf387a