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Lehman's Fuld sold mansion to wife for $100

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posted on Jan, 27 2009 @ 05:20 AM


NEW YORK (Reuters) - Fallen Lehman Brothers Chief Executive Richard Fuld sold his $13.3 million (9.8 million pound) mansion to his wife for just $100 (73 pounds) last November, according to Florida real estate records.

The 62-year old executive, who could face civil lawsuits after overseeing the storied investment bank's collapse into Chapter 11 proceedings last September, transferred ownership of the 3.3 acres seaside home to Kathleen Fuld on November 10, records show.

The couple had jointly bought the home for $13.75 million in March 2004, as first reported by

Fuld has been blamed for Lehman's collapse on September 15 after it was weighed down by bad assets leading to the largest-ever U.S. bankruptcy when it was unable to find a buyer to come to its rescue.

He was widely criticized for not acting quickly enough to save the 158-year old bank.

(visit the link for the full news article)

[edit on 27-1-2009 by imd12c4funn]

posted on Jan, 27 2009 @ 05:20 AM
I'll take half a dozen myself.

Greed....The final frontier.

Did this seem like a logical plan?

Sure...why not...

Logic is a concensus of the illogical now-a-days, or so it seems to me.

I hope they throw the book at him and that he is but the first in a fish barrell of spawning criminals.

Take out the to big to fail rhetoric from Congressional manipulators, and feast on blind justice, no matter how slowly the wheels turn
(visit the link for the full news article)

posted on Jan, 27 2009 @ 05:38 AM
Yeah I cant believe someone with his knowledge would try something like that.
Knowing full well it will make no difference.
If you are under investigation and you start getting rid of all your assets.
They will just void the sales and give back the money to the people and take the assets.
And if you dont hand over the money you got paid for them then that's even worse.
If you sold it like 2 years before then maybe they will just want to know where the money is.
But if you do something this stupid like sell a property worth 13.3m for $100 they will just void it and take it.
All this does it make it look bad for yourself.
The only way to do it is to sell them for full value.
And transfer the money offshore.
Then no matter what they cant actually get at the money.
But they can stick you in a concrete box until you tell them where it is.

Money not much use to you in there.


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