A Los Angeles jury on Friday found that Jack Kavanaugh, father of Relativity Media CEO Ryan Kavanaugh, defrauded his former friend Victor Sands in the sale of a phony Picasso. It awarded Sands close to $3.5 million in damages.
Jack Kavanaugh was ordered to pay Sands $250,000 in punitive damages, and the jury awarded Sands an additional $3.2 million in compensatory damages.
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