Add comment Reprints + - Ira Rennert's Sagaponack home as seen on July 28, 2006. Photo Credit: Doug Kuntz advertisement | advertise on newsday A Manhattan jury has found billionaire Ira Rennert liable for looting millions from a magnesium company he controlled -- money he allegedly used to pay for his $250 million residential compound in the Hamptons. Jurors on Friday levied $118 million in damages against Rennert and his closely held Renco Group investment firm. Interest will add another $200 million to $400 million, lawyers said. Most Popular Rennert, 80, a mining magnate worth $6.1 billion according to Forbes, faced allegations that he funneled...
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