Kenneth Cole Responds to Harvey Weinstein-Related Controversy

Harvey Weinstein’s myriad of problems include a questionable agreement with amfAR’s chairman Kenneth Cole to split proceeds from a fund-raising auction between the AIDS-fighting nonprofit and the American Repertory Theater in Boston. For reasons undetermined, Weinstein needed to make a $600,000 payment to the Harvard University-associated nonprofit theater by June 1, 2015. Weinstein was producer of the musical “Finding Neverland,” which had a trial run there. The theater had arranged to reimburse Weinstein and the show’s other investors for the trial run as long as the investors lined up third parties to donate the amounts, according to published reports.
Cole, who has served as amfAR’s chairman for more than 12 years and a board member for more than 30 years, agreed to split the proceeds for the lots he provided up to $1.2 million between amfAR and the American Repertory Theater. Proceeds above $1.2 million would go to amfAR, according to published reports. That agreement was made despite the fact that amfAR had not done that before with another group. After the fact, Cole is alleged to have gone to great lengths and expense to amfAR to conceal that deal, asking board members to sign NDAs.
Cole declined to comment Thursday, but

Follow WWD on Twitter or become a fan on Facebook.

Read More…      

Posted in Uncategorized.