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A hedge fund investor who loaned $2 million to Relativity Media just before it went bankrupt now claims he was swindled out of the money.
Carey Metz, chief investment officer of Atorus Investment Management, filed suit on Thursday in L.A. Superior Court, accusing Relativity founder Ryan Kavanaugh of fraud. Metz alleges that Kavanaugh went to unscrupulous lengths to scrounge money to salvage his company. Among other things, he says Kavanaugh reneged on a personal guarantee of the $2 million loan, which he says was consummated with a handshake.
Kavanaugh was struggling to avert bankruptcy in 2015. Metz had already put in $10 million, and Kavanaugh came to him seek…
Read the full article at: http://variety.com/2017/biz/news/carey-metz-relativity-ryan-kavanuagh-fraud-lawsuit-1202532259/