A Manhattan federal jury on Friday found that billionaire Ira Rennert plundered a now-bankrupt mining company to pay for personal luxuries, including a Hamptons mansion that's one of the world's largest private homes.
March 02, 2015 at 12:00 AM
1 minute read
A Manhattan federal jury on Friday found that billionaire Ira Rennert plundered a now-bankrupt mining company to pay for personal luxuries, including a Hamptons mansion that’s one of the world’s largest private homes.
Rennert, and his Renco Group Inc., was ordered to pay $118 million in damages at the trial before Southern District Judge Alison Nathan (See Profile). Interest could substantially increase the damages.
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