Harvey Weinstein has sued his brother, Bob Weinstein, and another executive at the Weinstein Company alleging fraud and a conspiracy to push him out of the company.
The suit, filed in the Supreme Court of the State of New York Saturday, alleges that Bob Weinstein, Weinstein Company executive David Glasser and others got Harvey Weinstein to guarantee a $45 million loan from AI International Holdings to support the film production and distribution company. However, the suit alleges that the money was not used to help the company, but rather that Bob Weinstein and Glasser took the money for “personal use, unauthorized bonuses, and unrelated financial dealings.”
“As he claims in his complaint, Harvey Weinstein was deceived by those closest to him, and secured a $45 million dollar loan under the pretense of saving The Weinstein Company. 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,” said Imran H. Ansari, an attorney for Weinstein.
The lawsuit further claims that Bob Weinstein and Glasser engaged in negotiations with AI International to release themselves from liability, leaving Harvey Weinstein responsible for the remaining $30 million plus interest.
The Weinstein Company filed for Chapter 11 bankruptcy in March 2018, following the sexual allegations brought forward against Harvey Weinstein.
Weinstein is seeking compensatory and punitive damages, and the funds allegedly misappropriated by Bob Weinstein and Glasser. He is also asking for full indemnification for any financial liability Weinstein may incur from the AI International lawsuit, punitive damages for fraud and financial misconduct and legal costs and an injunction to prevent further misallocation of funds.
Weinstein is also awaiting retrial of his 2020 rape conviction, which was overturned in April, and is set to include a new sexual assault charge in New York.
The trial is currently set for April 15, but on Jan. 29, Weinstein urged the judge to move the trial date up, citing his health issues, saying “I won’t be there for April.”
