Mnuchin’s Loans to Failed Movie Studio Face Scrutiny
- Mnuchin served on Relativity Media board while running OneWest
- His bank previously loaned millions to Kavanaugh’s company
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When a movie studio couldn’t repay an almost $80 million loan, it put Steven Mnuchin in an awkward position. He ran the lead lender, OneWest Bank. He was also co-chairman of the borrower.
The conflicts didn’t end there. Mnuchin ran a hedge fund that owned a stake in the Hollywood studio, Relativity Media LLC. And he owned a three-engine jet with Relativity founder Ryan Kavanaugh that had been zooming in the spring of 2015 to Aspen, Cabo San Lucas and Maui, federal aviation records show.