MagCorp Trustee Kicks Off $118M Rennert Looting Trial

By Andrew Scurria (February 2, 2015, 9:40 PM EST) -- Lawyers for a bankruptcy trustee accusing industrial magnate Ira Rennert of plundering $118 million from Magnesium Corp. of America told a Manhattan jury on Monday that dividends extracted by the billionaire's Renco Group Inc. left MagCorp "doomed to fail" and creditors out of the money....

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