Why Would a Banker Sell his $14m House to his Wife for $100?
Previous Lehman employer accused when trying to full cover up assets from creditors
Dick Fuld, the previous CEO regarding the bankrupt Lehman Brothers (GETTY)
NY – Dick Fuld took house therefore money that is much the years before their company spiralled into bankruptcy which he could not also determine just how much. The good news is, the former Lehman Brothers employer is counting every penny and, at the centre of a financial mystery as he prepares for an onslaught of lawsuits against him, he finds himself.
Within the months after Lehman collapsed him a personal $1bn (?718m) loss on his stake in the firm, Mr Fuld transferred ownership of a $14m mansion in Florida to his wife, Kathleen around him, triggering the worst financial panic since the Great Depression and causing. She paid simply $100, the minimum permitted by Florida legislation.
The property that is five-bedroom nestled on 3.3 acres of beachfront at breathtaking Jupiter Island, north for the well-to-do play ground of Palm Beach, is their «seasonal getaway» and another of five domiciles the few very own.
As information on the transfer emerged yesterday, Wall Streeters and attorneys speculated that the couple could possibly be attempting to shield as numerous of the assets possible from legal actions, including bankruptcy proceedings. (más…)