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{{short description|American film producer}}

{{Use mdy dates|date=April 2014}}
{{Use mdy dates|date=April 2014}}
{{Infobox person
{{Infobox person
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| birth_name = David Rafael Bergstein
| birth_name = David Rafael Bergstein
| birth_date = {{birth-date and age|August 9, 1962}}
| birth_date = {{birth-date and age|August 9, 1962}}
| birth_place = [[New York City]], [[New York (state)|New York]], United States
| birth_place = New York City, US
| years_active = 1984 – present
| years_active = 1984 – present
| occupation = [[Film producer]], [[entrepreneurship|entrepreneur]], [[investment banking|investment banker]]
| occupation = [[Film producer]], [[investment banking|investment banker]]
}}
}}


'''David Rafael Bergstein''' (born 1962) is a former American financier, entrepreneur and film producer. He started his career in real estate development before expanding his business interests to buying up distressed assets and branched out into independent film production between 2003 and 2010. Bergstein served as CEO of Cyrano Group, a private equity and advisory firm that he founded, until 2018, when he was convicted of defrauding investors out of $26 million. Bergstein is currently serving an eight-year prison sentence.
'''David Rafael Bergstein''' (born 1962) is an American financier, film producer, and convicted fraudster. He started his career in real estate development before expanding his business interests to buying up distressed assets and branched out into independent film production between 2003 and 2010. Bergstein was CEO of Cyrano Group, a private equity and advisory firm that he founded, until 2018, when he was convicted of defrauding investors out of $26 million. Bergstein is serving an eight-year prison sentence.


==Early life and education==
==Early life and education==
Bergstein was born in [[Brooklyn]], New York<ref name="LAT2008">{{cite news|url=https://articles.latimes.com/2008/aug/25/business/fi-thinkfilm25|title=A tough Hollywood debut|date=August 25, 2008|work=[[Los Angeles Times]]|last2=Friedman|first2=Josh|first1=Claudia|last1=Eller|accessdate=March 19, 2014}}</ref> and grew up with his father Leonard Bergstein, an engineering professor, inventor and [[Holocaust]] survivor.<ref name=huffingtonpost/>
Bergstein was born in [[Brooklyn]], New York<ref name="LAT2008">{{cite news|url=https://articles.latimes.com/2008/aug/25/business/fi-thinkfilm25|title=A tough Hollywood debut|date=August 25, 2008|work=[[Los Angeles Times]]|last2=Friedman|first2=Josh|first1=Claudia|last1=Eller|access-date=March 19, 2014}}</ref> and grew up with his father Leonard Bergstein, an engineering professor, inventor and [[Holocaust]] survivor.<ref name=huffingtonpost/>


After graduating high school early, Bergstein went on to receive a BS with a concentration in [[pre-medicine]] and mathematics at [[New York University Polytechnic School of Engineering|Polytechnic Institute of New York University]]. He also later attended the [[Benjamin N. Cardozo School of Law]].<ref name="huffingtonpost">{{cite web|url=https://www.huffingtonpost.com/david-bergstein/|title=David Bergstein Huffington Post|work=[[The Huffington Post]]|accessdate=March 19, 2014}}</ref> During his time in law school, Bergstein went on to become a research analyst, first for [[Salomon Brothers]] and then for [[Bear Stearns]], where he specialized in the analysis of troubled or undervalued companies.<ref name="huffingtonpost" /><ref>{{Cite web|url=https://www.bloomberg.com/Research/stocks/private/person.asp?personId=284742137&privcapId=284740643&previousCapId=284740643&previousTitle=Cyrano%20Group,%20Inc.|title=Bloomberg {{!}} Company Overview of Cyrano Group, Inc. - Executive Profile of David Bergstein|last=|first=|date=|website=|publisher=|access-date=}}</ref>
After graduating high school early, Bergstein went on to receive a BS with a concentration in [[pre-medicine]] and mathematics at [[New York University Polytechnic School of Engineering|Polytechnic Institute of New York University]]. He also later attended the [[Benjamin N. Cardozo School of Law]].<ref name="huffingtonpost">{{cite web|url=https://www.huffingtonpost.com/david-bergstein/|title=David Bergstein Huffington Post|work=[[The Huffington Post]]|access-date=March 19, 2014}}</ref> During his time in law school, Bergstein went on to become a research analyst, first for [[Salomon Brothers]] and then for [[Bear Stearns]], where he specialized in the analysis of troubled or undervalued companies.<ref name="huffingtonpost" /><ref>{{Cite web|url=https://www.bloomberg.com/Research/stocks/private/person.asp?personId=284742137&privcapId=284740643&previousCapId=284740643&previousTitle=Cyrano%20Group,%20Inc.|title=Bloomberg {{!}} Company Overview of Cyrano Group, Inc. - Executive Profile of David Bergstein|last=|first=|date=|website=[[Bloomberg News]]|publisher=|access-date=}}</ref>


==Career==
==Career==
After relocating to Los Angeles in 1984, Bergstein made a career buying and selling real estate which later transferred into real estate development. By the 1990s, Bergstein shifted his business focus from real estate to focus on acquiring or advising on distressed operating companies and debt.<ref name="LAT2008" /> Bergstein later founded the Cyrano Group, a private equity and advisory firm, where he served as CEO.<ref name=huffingtonpost/>
After relocating to Los Angeles in 1984, Bergstein made a career buying and selling real estate which later transferred into real estate development. By the 1990s, Bergstein shifted his business focus from real estate to focus on acquiring or advising on distressed operating companies and debt.<ref name="LAT2008" /> Bergstein later founded the Cyrano Group, a private equity and advisory firm, where he was CEO.<ref name=huffingtonpost/>


In 2003, Bergstein and business partner [[Ron Tutor]] loaned money to [[Franchise Pictures]], a film production company headed by [[Elie Samaha]]. When the company went bankrupt, Bergstein and Tutor became owners of dozens of Franchise's films. By 2006, they had also acquired [[Capitol Films]] and [[ThinkFilm]], in the process becoming major players in the independent film sector.<ref name="LAT2008"/>
In 2003, Bergstein and business partner [[Ron Tutor]] loaned money to [[Franchise Pictures]], a film production company headed by [[Elie Samaha]]. When the company went bankrupt, Bergstein and Tutor became owners of dozens of Franchise's films. By 2006, they had also acquired [[Capitol Films]] and [[ThinkFilm]], in the process becoming major players in the independent film sector.<ref name="LAT2008"/>


In March 2010, fourteen creditors attempting to force the five companies controlled by Bergstein and Tutor into [[Chapter 11 bankruptcy]] were granted an emergency motion by a court to have an interim trustee appointed to oversee the companies.<ref name="LATmar18-10">{{cite news |first=Ben |last=Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/03/creditors-attempting-to-force-bergstein-into-bankruptcy.html|title=Creditors attempting to force David Bergstein's companies into bankruptcy (updated)|date=March 18, 2010|work=[[Los Angeles Times]]|accessdate=March 25, 2014}}</ref><ref name="LATmar30-10">{{cite news |first=Ben |last=Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/03/court-appoints-trustee-to-oversee-bergsteins-companies.html|title=Court appoints trustee to oversee Bergstein's companies|date=March 30, 2010|work=[[Los Angeles Times]]|accessdate=March 19, 2014}}</ref> Capitol Films and ThinkFilm were formally declared bankrupt by a Federal judge in October 2010,<ref name="Wrap2010">{{cite news |first=Brent |last=Lang |url=https://www.thewrap.com/movies/article/bergsteins-thinkfilm-capitol-films-declared-bankrupt-21507|title=Bergstein's ThinkFilm, Capitol Films Declared Bankrupt |date=October 6, 2010|work=[[The Wrap]]|accessdate=March 25, 2014}}</ref><ref name="LAT3">{{cite news|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/02/david-bergsteins-three-remaining-companies-forced-into-.html|title=David Bergstein's three remaining companies forced into bankruptcy|first=Ben |last=Fritz|date=February 9, 2011|work=[[Los Angeles Times]]|accessdate=March 19, 2014}}</ref> and Bergstein's remaining three companies—R2D2, CT-1 Holdings and Capco—in 2011.<ref name="LAT3"/><ref name="Wrap2011">{{cite news |first=Brent |last=Lang |url=https://www.thewrap.com/movies/column-post/judge-sends-david-bergsteins-remaining-companies-bankruptcy-24608|title=Bergstein's Remaining Companies Pushed into Bankruptcy |date=February 9, 2011|work=[[The Wrap]]|accessdate=March 25, 2014}}</ref> One of the creditors that had forced Bergstein's companies into bankruptcy, Aramid Entertainment Fund, had its claims against Bergstein's companies dismissed in 2012 — a judgment that was upheld by the [[New York Supreme Court]] in 2013.<ref name="Law360-2013">{{cite news|first=Sindhu |last=Sundar |work=[[Law360]] |title=Bergstein Beats Aramid's $190M Suit in NY Appeals Court |date=April 30, 2014 |url=http://www.law360.com/articles/437373/bergstein-beats-aramid-s-190m-suit-in-ny-appeals-court |accessdate=April 10, 2014 |archiveurl=https://web.archive.org/web/20140413130151/http://www.law360.com/articles/437373/bergstein-beats-aramid-s-190m-suit-in-ny-appeals-court |archivedate=April 13, 2014 |url-status=bot: unknown |df=mdy }}</ref> In 2012 the former in-house counsel for Capitol Films who had left the company to work for Aramid, was successfully sued by Bergstein for breach of fiduciary trust and malpractice and ordered to pay $50 million in damages to Bergstein.<ref name="DLH">{{cite web|date=August 22, 2012|title=Capitol’s David Bergstein Awarded $50M+$500K In Lawsuit Against Ex-Counsel|url=https://www.deadline.com/2012/08/film-financier-david-bergstein-awarded-49-5m-by-jury-in-lawsuit-against-ex-counsel/|publisher=Deadline Holywood|language=|last=Patten|first=Dominic|accessdate=23 April 2014}}</ref><ref name="Law36004">{{cite web|date=August 21, 2012|title=Bergstein Wins $49.5M From Atty For Forced Bankruptcies|url=http://www.law360.com/articles/371927/bergstein-wins-49-5m-from-atty-for-forced-bankruptcies?related_articles=1|publisher=Law360|language=|last=Randles|first=Jonathan|accessdate=23 April 2014}}</ref><ref name="Law36002">{{cite web|date=August 13, 2012|title=Ex-Bergstein Atty Admits Targeting Companies For Bankruptcy|url=http://www.law360.com/articles/369458/ex-bergstein-atty-admits-targeting-companies-for-bankruptcy|publisher=Law360|language=|last=Winnick|first=Zach |accessdate=23 April 2014}}</ref><ref name="Law36003">{{cite web|date=August 14, 2012|title=Ex-Bergstein Atty Said She Would Destroy Docs, Jury Hears|url=http://www.law360.com/articles/369878/ex-bergstein-atty-said-she-would-destroy-docs-jury-hears|publisher=Law360|language=|last=Randles|first=Jonathan |accessdate=23 April 2014}}</ref> In 2014, another creditor, Screen Capital International, had its claims rejected by a federal judge. Lawyers successfully argued that it was not a legitimate creditor because it had purchased the claims from another entity.<ref name="Law360-2014">{{cite news|first=Maria |last=Chutchian |work=[[Law360]] |title=Screen Capital's Claims Axed From Bergstein Bankruptcies |date=March 10, 2014 |url=http://www.law360.com/articles/517185/screen-capital-s-claims-axed-from-bergstein-bankruptcies |accessdate=March 25, 2014 |archiveurl=https://web.archive.org/web/20140326122315/http://www.law360.com/articles/517185/screen-capital-s-claims-axed-from-bergstein-bankruptcies |archivedate=March 26, 2014 |url-status=bot: unknown |df=mdy }}</ref> The U.S. District and Bankruptcy Courts dismissed the outstanding involuntary bankruptcy cases in 2016.<ref>{{Cite web |first=Megan |last= Nicolai |title=Federal Courts Approve Settlement and Dismissal of Involuntary Bankruptcy Cases Filed Against Noted Film Entrepreneur David Bergstein |date=March 28, 2016 |publisher=[[PRWeb]] |url=http://www.prweb.com/releases/2016/03/prweb13282047.htm |accessdate=July 16, 2016}}</ref>
In March 2010, fourteen creditors attempting to force the five companies controlled by Bergstein and Tutor into [[Chapter 11 bankruptcy]] were granted an emergency motion by a court to have an interim trustee appointed to oversee the companies.<ref name="LATmar18-10">{{cite news |first=Ben |last=Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/03/creditors-attempting-to-force-bergstein-into-bankruptcy.html|title=Creditors attempting to force David Bergstein's companies into bankruptcy (updated)|date=March 18, 2010|work=[[Los Angeles Times]]|access-date=March 25, 2014}}</ref><ref name="LATmar30-10">{{cite news |first=Ben |last=Fritz |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/03/court-appoints-trustee-to-oversee-bergsteins-companies.html|title=Court appoints trustee to oversee Bergstein's companies|date=March 30, 2010|work=[[Los Angeles Times]]|access-date=March 19, 2014}}</ref> Capitol Films and ThinkFilm were formally declared bankrupt by a Federal judge in October 2010,<ref name="Wrap2010">{{cite news|first=Brent|last=Lang|url=https://www.thewrap.com/movies/article/bergsteins-thinkfilm-capitol-films-declared-bankrupt-21507|title=Bergstein's ThinkFilm, Capitol Films Declared Bankrupt|date=October 6, 2010|work=[[The Wrap]]|access-date=March 25, 2014|archive-date=January 21, 2014|archive-url=https://web.archive.org/web/20140121183010/http://www.thewrap.com/movies/article/bergsteins-thinkfilm-capitol-films-declared-bankrupt-21507|url-status=dead}}</ref><ref name="LAT3">{{cite news|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/02/david-bergsteins-three-remaining-companies-forced-into-.html|title=David Bergstein's three remaining companies forced into bankruptcy|first=Ben |last=Fritz|date=February 9, 2011|work=[[Los Angeles Times]]|access-date=March 19, 2014}}</ref> and Bergstein's remaining three companies—R2D2, CT-1 Holdings and Capco—in 2011.<ref name="LAT3"/><ref name="Wrap2011">{{cite news |first=Brent |last=Lang |url=https://www.thewrap.com/movies/column-post/judge-sends-david-bergsteins-remaining-companies-bankruptcy-24608|title=Bergstein's Remaining Companies Pushed into Bankruptcy |date=February 9, 2011|work=[[The Wrap]]|access-date=March 25, 2014}}</ref> One of the creditors that had forced Bergstein's companies into bankruptcy, Aramid Entertainment Fund, had its claims against Bergstein's companies dismissed in 2012 — a judgment that was upheld by an appellate court in 2013.<ref name="Law360-2013">{{cite news|first=Sindhu |last=Sundar |work=[[Law360]] |title=Bergstein Beats Aramid's $190M Suit in NY Appeals Court |date=April 30, 2014 |url=http://www.law360.com/articles/437373/bergstein-beats-aramid-s-190m-suit-in-ny-appeals-court |access-date=April 10, 2014 |archive-url=https://web.archive.org/web/20140413130151/http://www.law360.com/articles/437373/bergstein-beats-aramid-s-190m-suit-in-ny-appeals-court |archive-date=April 13, 2014 |url-status=bot: unknown |df=mdy }}</ref> In 2012 the former in-house counsel for Capitol Films who had left the company to work for Aramid, was successfully sued by Bergstein for breach of fiduciary trust and malpractice and ordered to pay $50 million in damages to Bergstein.<ref name="DLH">{{cite web|date=August 22, 2012|title=Capitol's David Bergstein Awarded $50M+$500K In Lawsuit Against Ex-Counsel|url=https://www.deadline.com/2012/08/film-financier-david-bergstein-awarded-49-5m-by-jury-in-lawsuit-against-ex-counsel/|publisher=Deadline Holywood|language=|last=Patten|first=Dominic|access-date=23 April 2014}}</ref><ref name="Law36004">{{cite web|date=August 21, 2012|title=Bergstein Wins $49.5M From Atty For Forced Bankruptcies|url=http://www.law360.com/articles/371927/bergstein-wins-49-5m-from-atty-for-forced-bankruptcies?related_articles=1|publisher=Law360|language=|last=Randles|first=Jonathan|access-date=23 April 2014}}</ref><ref name="Law36002">{{cite web|date=August 13, 2012|title=Ex-Bergstein Atty Admits Targeting Companies For Bankruptcy|url=http://www.law360.com/articles/369458/ex-bergstein-atty-admits-targeting-companies-for-bankruptcy|publisher=Law360|language=|last=Winnick|first=Zach |access-date=23 April 2014}}</ref><ref name="Law36003">{{cite web|date=August 14, 2012|title=Ex-Bergstein Atty Said She Would Destroy Docs, Jury Hears|url=http://www.law360.com/articles/369878/ex-bergstein-atty-said-she-would-destroy-docs-jury-hears|publisher=Law360|language=|last=Randles|first=Jonathan |access-date=23 April 2014}}</ref> In 2014, another creditor, Screen Capital International, had its claims rejected by a federal judge. Lawyers successfully argued that it was not a legitimate creditor because it had purchased the claims from another entity.<ref name="Law360-2014">{{cite news|first=Maria |last=Chutchian |work=[[Law360]] |title=Screen Capital's Claims Axed From Bergstein Bankruptcies |date=March 10, 2014 |url=http://www.law360.com/articles/517185/screen-capital-s-claims-axed-from-bergstein-bankruptcies |access-date=March 25, 2014 |archive-url=https://web.archive.org/web/20140326122315/http://www.law360.com/articles/517185/screen-capital-s-claims-axed-from-bergstein-bankruptcies |archive-date=March 26, 2014 |url-status=bot: unknown |df=mdy }}</ref> The U.S. District and Bankruptcy Courts dismissed the outstanding involuntary bankruptcy cases in 2016.<ref>{{Cite web |first=Megan |last= Nicolai |title=Federal Courts Approve Settlement and Dismissal of Involuntary Bankruptcy Cases Filed Against Noted Film Entrepreneur David Bergstein |date=March 28, 2016 |publisher=[[PRWeb]] |url=http://www.prweb.com/releases/2016/03/prweb13282047.htm |access-date=July 16, 2016}}</ref>


Bergstein also took an advisory role in the sale of [[Miramax]] in 2010 to an investor group that included his partner, Ron Tutor. The purchase, for $660 million, included the rights to more than 700 library titles.<ref>{{cite news|first=Lauren A. E. |last=Schucker |title=Hollywood Outsiders to Buy Miramax |date=July 31, 2010 |work=[[The Wall Street Journal]] |url=http://online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |accessdate=March 26, 2010 |archiveurl=https://web.archive.org/web/20131221015327/http://online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |archivedate=December 21, 2013 |url-status=bot: unknown |df=mdy }}</ref> In 2012, Bergstein sued the owners of Miramax alleging they had reneged on paying him a $6.1 million fee and a 3.33 percent stake as compensation for his role in the acquisition;<ref name="LAT3-13">{{cite news |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/04/david-bergstein-miramax.html |title=David Bergstein sues Miramax owners |first=Ben |last=Fritz| date=April 9, 2012 |work=[[Los Angeles Times]] |accessdate=March 26, 2014}}</ref> the litigation ended two weeks later when Bergstein and Miramax reached a settlement.<ref name="Fritz (2012-4-24)">{{cite news |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/04/miramax-and-david-bergstein-settle-lawsuit.html |title=Miramax and David Bergstein settle lawsuit |first=Ben |last=Fritz| date=April 24, 2012 |work=[[Los Angeles Times]] |accessdate=April 11, 2014}}</ref>
Bergstein also took an advisory role in the sale of [[Miramax]] in 2010 to an investor group that included his partner, Ron Tutor. The purchase, for $660 million, included the rights to more than 700 library titles.<ref>{{cite news|first=Lauren A. E. |last=Schucker |title=Hollywood Outsiders to Buy Miramax |date=July 31, 2010 |work=[[The Wall Street Journal]] |url=http://online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |access-date=March 26, 2010 |archive-url=https://web.archive.org/web/20131221015327/http://online.wsj.com/news/articles/SB10001424052748703999304575398471332427574 |archive-date=December 21, 2013 |url-status=bot: unknown |df=mdy }}</ref> In 2012, Bergstein sued the owners of Miramax alleging they had reneged on paying him a $6.1 million fee and a 3.33 percent stake as compensation for his role in the acquisition;<ref name="LAT3-13">{{cite news |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/04/david-bergstein-miramax.html |title=David Bergstein sues Miramax owners |first=Ben |last=Fritz| date=April 9, 2012 |work=[[Los Angeles Times]] |access-date=March 26, 2014}}</ref> the litigation ended two weeks later when Bergstein and Miramax reached a settlement.<ref name="Fritz (2012-4-24)">{{cite news |url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2012/04/miramax-and-david-bergstein-settle-lawsuit.html |title=Miramax and David Bergstein settle lawsuit |first=Ben |last=Fritz| date=April 24, 2012 |work=[[Los Angeles Times]] |access-date=April 11, 2014}}</ref>


On November 9, 2016, Bergstein was arrested at his Hidden Hills, California home after being indicted for fraud,<ref>{{cite news |author=[[Associated Press]] |title=Producer David Bergstein Arrested in $26M Fraud |date=November 9, 2016 |work=[[The Hollywood Reporter]] |url=https://www.hollywoodreporter.com/news/producer-david-bergstein-arrested-26m-fraud-946071 |accessdate=June 27, 2018}}</ref> and was convicted by a [[Federal jury]] on March 1, 2018 of defrauding investors out of $26 million.<ref>{{cite news |first=Gene |last=Maddaus |title=David Bergstein Convicted of Defrauding Investors Out of $26 Million |date=March 2, 2018 |work=[[Variety (magazine)|Variety]] |url=https://variety.com/2018/biz/news/david-bergstein-convicted-1202715647/ |accessdate=June 27, 2018}}</ref> In June 2018 Bergstein was sentenced to eight years in prison and ordered to pay a $250,000 fine. Bergstein cried as he requested leniency but [[United States federal judge]] [[P. Kevin Castel]] said his crimes needed to be "punished severely" to "send a message".<ref>{{cite news |author=[[Associated Press]] |title=Producer David Bergstein Gets Eight Years in Prison for Fraud |date=June 27, 2018 |url=https://www.hollywoodreporter.com/news/heart-sea-producer-david-bergstein-gets-eight-years-prison-fraud-1123803 |accessdate=July 31, 2018}}</ref>
On November 9, 2016, Bergstein was arrested at his Hidden Hills, California home after being indicted for fraud,<ref>{{cite news |agency=Associated Press |title=Producer David Bergstein Arrested in $26M Fraud |date=November 9, 2016 |work=[[The Hollywood Reporter]] |url=https://www.hollywoodreporter.com/news/producer-david-bergstein-arrested-26m-fraud-946071 |access-date=June 27, 2018}}</ref> and was convicted by a [[Federal jury]] on March 1, 2018 of defrauding investors out of $26 million.<ref>{{cite news |first=Gene |last=Maddaus |title=David Bergstein Convicted of Defrauding Investors Out of $26 Million |date=March 2, 2018 |work=[[Variety (magazine)|Variety]] |url=https://variety.com/2018/biz/news/david-bergstein-convicted-1202715647/ |access-date=June 27, 2018}}</ref> In June 2018 Bergstein was sentenced to eight years in prison and ordered to pay a $250,000 fine. Bergstein cried as he requested leniency but [[United States federal judge]] [[P. Kevin Castel]] said his crimes needed to be "punished severely" to "send a message".<ref>{{cite news |agency=Associated Press |title=Producer David Bergstein Gets Eight Years in Prison for Fraud |date=June 27, 2018 |url=https://www.hollywoodreporter.com/news/heart-sea-producer-david-bergstein-gets-eight-years-prison-fraud-1123803 |access-date=July 31, 2018}}</ref>


== Personal life ==
== Personal life ==
In 2011, Bergstein, along with his wife Sara, formally dedicated the Conejo Jewish Academy's adult education program to Bergstein's father, naming the program "Leonard Bergstein Jewish Academy."<ref>[http://www.jewishacademy.com/2014Winter/detail.asp?ID=90 Conejo Jewish Academy: A project of Chabad of the Conejo—Dedicated in Memory of Leonard Bergstein]</ref> Bergstein currently serves on the board of the Sheriff's Youth Foundation, a youth program run by the [[Los Angeles County Sheriff's Department]], and the board at the Grossman Burn Foundation, a nonprofit organization supporting burn survivors and their families.<ref name="huffingtonpost" /><ref name="sheriffsyouthfoundation">{{cite web|url=http://sheriffsyouthfoundation.org/three-new-members-join-foundation-board/|title=Three New Members Join Foundation Board|publisher=Sheriff's Youth Foundation of Los Angeles County|accessdate=March 19, 2014}}</ref> Bergstein is also a featured contributor for ''[[The Huffington Post|Huffington Post]]'', the ''[[The Times of Israel|Times of Israel]]'', the ''[[Algemeiner Journal|Algemeiner]]'' online newspaper, and other periodicals.<ref name="algemeiner">{{cite web|url=http://www.algemeiner.com/author/david-bergstein/|title=David Bernstein|publisher=The Algemeiner|accessdate=March 19, 2014}}</ref>
In 2011, Bergstein, along with his wife Sara, formally dedicated the Conejo Jewish Academy's adult education program to Bergstein's father, naming the program "Leonard Bergstein Jewish Academy."<ref>[http://www.jewishacademy.com/2014Winter/detail.asp?ID=90 Conejo Jewish Academy: A project of Chabad of the Conejo—Dedicated in Memory of Leonard Bergstein]</ref> Bergstein is on the board of the Sheriff's Youth Foundation, a youth program run by the [[Los Angeles County Sheriff's Department]], and the board at the Grossman Burn Foundation, a nonprofit organization supporting burn survivors and their families.<ref name="huffingtonpost" /><ref name="sheriffsyouthfoundation">{{cite web|url=http://sheriffsyouthfoundation.org/three-new-members-join-foundation-board/|title=Three New Members Join Foundation Board|publisher=Sheriff's Youth Foundation of Los Angeles County|access-date=March 19, 2014}}</ref> Bergstein is also a featured contributor for ''[[The Huffington Post|Huffington Post]]'', the ''[[The Times of Israel|Times of Israel]]'', the ''[[Algemeiner Journal|Algemeiner]]'' online newspaper, and other periodicals.<ref name="algemeiner">{{cite web|url=http://www.algemeiner.com/author/david-bergstein/|title=David Bernstein|publisher=The Algemeiner|access-date=March 19, 2014}}</ref>


==Selected filmography==
==Selected filmography==
The films Bergstein has been involved in include:<ref name="wcp">{{cite news|url=https://www.variety.com/profiles/people/main/1224660/David%20Bergstein.html?dataSet=1|title=I Variety Profile – David Bergstein|work=[[Variety (magazine)|Variety]], 2009|archiveurl=https://web.archive.org/web/20100413012109/http://www.variety.com/profiles/people/main/1224660/David%20Bergstein.html?dataSet=1|archivedate=April 13, 2010}}</ref>
The films Bergstein has been involved in include:<ref name="wcp">{{cite news|url=https://www.variety.com/profiles/people/main/1224660/David%20Bergstein.html?dataSet=1|title=I Variety Profile – David Bergstein|work=[[Variety (magazine)|Variety]], 2009|archive-url=https://web.archive.org/web/20100413012109/http://www.variety.com/profiles/people/main/1224660/David%20Bergstein.html?dataSet=1|archive-date=April 13, 2010}}</ref>
*2010 – ''[[Love Ranch]]'' (Producer, uncredited)
*2010 – ''[[Love Ranch]]'' (Producer, uncredited)
*2010 – ''[[Shelter (2010 film)|6 Souls]]'' (Executive Producer)
*2010 – ''[[Shelter (2010 film)|6 Souls]]'' (Executive Producer)
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[[Category:Living people]]
[[Category:Living people]]
[[Category:Polytechnic Institute of New York University alumni]]
[[Category:Polytechnic Institute of New York University alumni]]
[[Category:20th-century American Jews]]
[[category:Jewish Americans]]
[[Category:21st-century American Jews]]

Revision as of 14:21, 31 March 2024

David Bergstein
Born
David Rafael Bergstein

August 9, 1962 (1962-08-09) (age 61)
New York City, US
Occupation(s)Film producer, investment banker
Years active1984 – present

David Rafael Bergstein (born 1962) is an American financier, film producer, and convicted fraudster. He started his career in real estate development before expanding his business interests to buying up distressed assets and branched out into independent film production between 2003 and 2010. Bergstein was CEO of Cyrano Group, a private equity and advisory firm that he founded, until 2018, when he was convicted of defrauding investors out of $26 million. Bergstein is serving an eight-year prison sentence.

Early life and education

Bergstein was born in Brooklyn, New York[1] and grew up with his father Leonard Bergstein, an engineering professor, inventor and Holocaust survivor.[2]

After graduating high school early, Bergstein went on to receive a BS with a concentration in pre-medicine and mathematics at Polytechnic Institute of New York University. He also later attended the Benjamin N. Cardozo School of Law.[2] During his time in law school, Bergstein went on to become a research analyst, first for Salomon Brothers and then for Bear Stearns, where he specialized in the analysis of troubled or undervalued companies.[2][3]

Career

After relocating to Los Angeles in 1984, Bergstein made a career buying and selling real estate which later transferred into real estate development. By the 1990s, Bergstein shifted his business focus from real estate to focus on acquiring or advising on distressed operating companies and debt.[1] Bergstein later founded the Cyrano Group, a private equity and advisory firm, where he was CEO.[2]

In 2003, Bergstein and business partner Ron Tutor loaned money to Franchise Pictures, a film production company headed by Elie Samaha. When the company went bankrupt, Bergstein and Tutor became owners of dozens of Franchise's films. By 2006, they had also acquired Capitol Films and ThinkFilm, in the process becoming major players in the independent film sector.[1]

In March 2010, fourteen creditors attempting to force the five companies controlled by Bergstein and Tutor into Chapter 11 bankruptcy were granted an emergency motion by a court to have an interim trustee appointed to oversee the companies.[4][5] Capitol Films and ThinkFilm were formally declared bankrupt by a Federal judge in October 2010,[6][7] and Bergstein's remaining three companies—R2D2, CT-1 Holdings and Capco—in 2011.[7][8] One of the creditors that had forced Bergstein's companies into bankruptcy, Aramid Entertainment Fund, had its claims against Bergstein's companies dismissed in 2012 — a judgment that was upheld by an appellate court in 2013.[9] In 2012 the former in-house counsel for Capitol Films who had left the company to work for Aramid, was successfully sued by Bergstein for breach of fiduciary trust and malpractice and ordered to pay $50 million in damages to Bergstein.[10][11][12][13] In 2014, another creditor, Screen Capital International, had its claims rejected by a federal judge. Lawyers successfully argued that it was not a legitimate creditor because it had purchased the claims from another entity.[14] The U.S. District and Bankruptcy Courts dismissed the outstanding involuntary bankruptcy cases in 2016.[15]

Bergstein also took an advisory role in the sale of Miramax in 2010 to an investor group that included his partner, Ron Tutor. The purchase, for $660 million, included the rights to more than 700 library titles.[16] In 2012, Bergstein sued the owners of Miramax alleging they had reneged on paying him a $6.1 million fee and a 3.33 percent stake as compensation for his role in the acquisition;[17] the litigation ended two weeks later when Bergstein and Miramax reached a settlement.[18]

On November 9, 2016, Bergstein was arrested at his Hidden Hills, California home after being indicted for fraud,[19] and was convicted by a Federal jury on March 1, 2018 of defrauding investors out of $26 million.[20] In June 2018 Bergstein was sentenced to eight years in prison and ordered to pay a $250,000 fine. Bergstein cried as he requested leniency but United States federal judge P. Kevin Castel said his crimes needed to be "punished severely" to "send a message".[21]

Personal life

In 2011, Bergstein, along with his wife Sara, formally dedicated the Conejo Jewish Academy's adult education program to Bergstein's father, naming the program "Leonard Bergstein Jewish Academy."[22] Bergstein is on the board of the Sheriff's Youth Foundation, a youth program run by the Los Angeles County Sheriff's Department, and the board at the Grossman Burn Foundation, a nonprofit organization supporting burn survivors and their families.[2][23] Bergstein is also a featured contributor for Huffington Post, the Times of Israel, the Algemeiner online newspaper, and other periodicals.[24]

Selected filmography

The films Bergstein has been involved in include:[25]

References

  1. ^ a b c Eller, Claudia; Friedman, Josh (August 25, 2008). "A tough Hollywood debut". Los Angeles Times. Retrieved March 19, 2014.
  2. ^ a b c d e "David Bergstein Huffington Post". The Huffington Post. Retrieved March 19, 2014.
  3. ^ "Bloomberg | Company Overview of Cyrano Group, Inc. - Executive Profile of David Bergstein". Bloomberg News.
  4. ^ Fritz, Ben (March 18, 2010). "Creditors attempting to force David Bergstein's companies into bankruptcy (updated)". Los Angeles Times. Retrieved March 25, 2014.
  5. ^ Fritz, Ben (March 30, 2010). "Court appoints trustee to oversee Bergstein's companies". Los Angeles Times. Retrieved March 19, 2014.
  6. ^ Lang, Brent (October 6, 2010). "Bergstein's ThinkFilm, Capitol Films Declared Bankrupt". The Wrap. Archived from the original on January 21, 2014. Retrieved March 25, 2014.
  7. ^ a b Fritz, Ben (February 9, 2011). "David Bergstein's three remaining companies forced into bankruptcy". Los Angeles Times. Retrieved March 19, 2014.
  8. ^ Lang, Brent (February 9, 2011). "Bergstein's Remaining Companies Pushed into Bankruptcy". The Wrap. Retrieved March 25, 2014.
  9. ^ Sundar, Sindhu (April 30, 2014). "Bergstein Beats Aramid's $190M Suit in NY Appeals Court". Law360. Archived from the original on April 13, 2014. Retrieved April 10, 2014.{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  10. ^ Patten, Dominic (August 22, 2012). "Capitol's David Bergstein Awarded $50M+$500K In Lawsuit Against Ex-Counsel". Deadline Holywood. Retrieved April 23, 2014.
  11. ^ Randles, Jonathan (August 21, 2012). "Bergstein Wins $49.5M From Atty For Forced Bankruptcies". Law360. Retrieved April 23, 2014.
  12. ^ Winnick, Zach (August 13, 2012). "Ex-Bergstein Atty Admits Targeting Companies For Bankruptcy". Law360. Retrieved April 23, 2014.
  13. ^ Randles, Jonathan (August 14, 2012). "Ex-Bergstein Atty Said She Would Destroy Docs, Jury Hears". Law360. Retrieved April 23, 2014.
  14. ^ Chutchian, Maria (March 10, 2014). "Screen Capital's Claims Axed From Bergstein Bankruptcies". Law360. Archived from the original on March 26, 2014. Retrieved March 25, 2014.{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  15. ^ Nicolai, Megan (March 28, 2016). "Federal Courts Approve Settlement and Dismissal of Involuntary Bankruptcy Cases Filed Against Noted Film Entrepreneur David Bergstein". PRWeb. Retrieved July 16, 2016.
  16. ^ Schucker, Lauren A. E. (July 31, 2010). "Hollywood Outsiders to Buy Miramax". The Wall Street Journal. Archived from the original on December 21, 2013. Retrieved March 26, 2010.{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  17. ^ Fritz, Ben (April 9, 2012). "David Bergstein sues Miramax owners". Los Angeles Times. Retrieved March 26, 2014.
  18. ^ Fritz, Ben (April 24, 2012). "Miramax and David Bergstein settle lawsuit". Los Angeles Times. Retrieved April 11, 2014.
  19. ^ "Producer David Bergstein Arrested in $26M Fraud". The Hollywood Reporter. Associated Press. November 9, 2016. Retrieved June 27, 2018.
  20. ^ Maddaus, Gene (March 2, 2018). "David Bergstein Convicted of Defrauding Investors Out of $26 Million". Variety. Retrieved June 27, 2018.
  21. ^ "Producer David Bergstein Gets Eight Years in Prison for Fraud". Associated Press. June 27, 2018. Retrieved July 31, 2018.
  22. ^ Conejo Jewish Academy: A project of Chabad of the Conejo—Dedicated in Memory of Leonard Bergstein
  23. ^ "Three New Members Join Foundation Board". Sheriff's Youth Foundation of Los Angeles County. Retrieved March 19, 2014.
  24. ^ "David Bernstein". The Algemeiner. Retrieved March 19, 2014.
  25. ^ "I Variety Profile – David Bergstein". Variety, 2009. Archived from the original on April 13, 2010.

External links