It is alleged that Milchan then worked as an arms dealer for Israel. Milchan denies being a dealer but admits acting as an intermediary between Israel and various defense companies.
Milchan then began investing in movies for various directors. Most notable among those directors was Martin Scorsese. Milchan started his own production company in 1991 called New Regency Productions. Through his company and other business ventures Milchan has attained a net worth estimated at about $1.1 billion.
Milchan is also noted for being a strong supporter of Israel. He is said to be a personal friend of Shimon Peres and underwrites the Israeli Network which transmits programs involving Israel to the Canada via cable and satellite.
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