House of cards: FIFTH member of swiftly collapsing Weinstein board resigns after it is revealed company was set to profit from Harvey’s sexual harassment settlements

Friday, October 13, 2017
By Paul Martin

Five of the nine members on the board of directors for The Weinstein Company have now stepped down
Accountant Richard Koenigsberg left the board shortly after a Times story disputed a statement claiming members were unaware of harassment payouts

13 October 2017

And then there were three.
The Weinstein Company board of directors lost its fifth member on Thursday as Richard Koenigsberg stepped down, just hours after a story in The New York Times disputed claims made by founder Bob Weinstein to employees that he had no idea about his brother’s sexual harassment and assault of multiple women.

Lance Maerov, the board member who handled contract negotiations, admitted that he was aware of multiple payouts made by Harvey back in 2015 and even put a clause in place that would have forced the embattled movie mogul to pay stiff penalties for any future settlements.

The first settlement would have cost Harvey, or any other top executive, $250,000, while the second would go up to $500,000, the third $750,000 and the fourth would require a $1 million penalty payment.

These penalties are higher than any of the reported amounts his alleged victims received in their settlements.

Harvey’s contract came up for renewal in late 2015, with a lawyer telling the board that there was no legal concern to resigning the company founder.

Negotiations began however around the same time that Italian model Ambra Battilana very publicly accused the executive of groping her and sticking a hand under her skirt during a meeting at his office.

She reportedly reveived a settlement just before Harvey renewed his contract in 2015, saving him a $250,000 penalty payment.

Koenigsberg’s decision to leave the board and Harvey’s termination by the company that bears his name means that Maerov, Bob and Tarak Ben Ammar are the only three members remaining on the once nine-person group.

Deputy CEO of Technicolor Tim Sarnoff and Avenue Capital Group CEO Marc Lasry were the first to go over the weekend, followed very quickly by billionaire publishing heir Dirk Siff.

Billionaire investor Paul Tudor Jones also made his exit over the weekend, just days before a second bombshell expose by the New Yorker revealed more allegations or harassment and assault.

The Rest…HERE

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