Harvey Weinstein sues brother Robert & former associates over $45M loan dispute
Harvey Weinstein has filed a lawsuit against his brother Robert Weinstein and former business associates over a disputed $45 million loan. Get the latest details on the legal battle.
Despite ongoing legal battles, Harvey Weinstein has filed a new lawsuit concerning a multimillion-dollar loan he secured in 2016. The disgraced former movie mogul, who is currently awaiting a retrial after his 2020 rape conviction was overturned, initiated legal action on Thursday in New York County Supreme Court.
According to court documents obtained by USA TODAY, Weinstein is suing his brother Robert Weinstein and former Weinstein Company executives, alleging they committed fraud after he became the guarantor on a $45 million loan from AI International Holdings (BVI) Limited. In the 22-page complaint, Weinstein claims that funds from the loan were misused and misappropriated, benefiting the defendants instead of serving the company's intended financial needs.
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Weinstein claims loan funds were misused for personal gain
The lawsuit alleges that Robert Weinstein and former Weinstein Co. executives, including David Glasser (former Chief Operating Officer) and Irwin Reiter (former Executive VP of Accounting), engaged in financial misconduct. Weinstein contends that instead of being used for legitimate business expenses, significant portions of the loan were diverted for unauthorized personal purposes, including bonuses, unrelated business ventures, and personal expenses.
According to the complaint, financial records indicate that between August 2017 and February 2018, Robert Weinstein withdrew at least $2.2 million from The Weinstein Company, even as the company faced mounting debts and financial instability. The lawsuit claims these payments were made while the company struggled to meet its obligations, demonstrating a pattern of fraudulent behavior and mismanagement.
Allegations against former Weinstein Co. executives
Weinstein’s lawsuit also accuses David Glasser and Irwin Reiter of playing key roles in the financial mismanagement of the company. Glasser is alleged to have engaged in a "systematic pattern of self-enrichment", including authorizing a $1 million payment to his father using company funds. Meanwhile, Reiter, who had direct access to the company’s financial records, is accused of failing to prevent fraudulent transactions and actively participating in concealing improper financial dealings.
The lawsuit claims the missmanagement of funds left Harvey Weinstein responsible for the full balance. Photo: Bussiness Times
The lawsuit states that loan funds were intentionally diverted, leaving The Weinstein Company financially crippled. These financial extractions, Weinstein argues, were made at the expense of creditors—including AI International—leading to severe financial damages and reputational harm.
The lawsuit claims that Robert Weinstein and Glasser settled the debt for approximately $15 million—a discounted amount—while intentionally leaving Harvey Weinstein responsible for the full balance. As a result, Weinstein is now entangled in ongoing litigation with AI International, as the company seeks to hold him solely accountable for the loan repayment.
Weinstein Co.’s bankruptcy and legal fallout
Founded in 2005 by Harvey and Robert Weinstein, The Weinstein Company was once a major force in Hollywood, producing blockbuster films like "Django Unchained", "Silver Linings Playbook", "Inglourious Bastards", and more. However, the company filed for bankruptcy in 2018 following the wave of sexual harassment and assault allegations against Harvey Weinstein.
This latest lawsuit is just one of several legal battles Weinstein is facing. Just three months prior, Weinstein’s legal team filed a $5 million claim against Rikers Island Correctional Facility, Bellevue Hospital, and New York City officials, accusing them of medical neglect while he remains in custody.