Monday, January 26, 2009

$100 Florida Mansion

Ex-Lehman chief sold $13m home to wife for $100

Richard Fuld, the disgraced former chief executive of Lehman Brothers, sold his $13.3 million (£9.6 million) Florida mansion to his wife in November for $100, according to real estate records. Mr Fuld, who is widely blamed for the collapse of Lehman Brothers in September last year, bought the house with his wife, Kathleen, in March 2004 for $13.75 million. On November 10, the 62-year-old banker transferred the seaside mansion into Mrs Fuld's name in return for $100.

Posted by sold out @ 03:43 PM (1478 views)
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10 thoughts on “$100 Florida Mansion

  • Shit I would have paid double that. No wonder his bank went under.

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  • How can he sell it to his wife when it says it just said it was owned jointly. Newspaper headlines eh!

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  • that should have some impact on the local house price stats ….. !

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  • Surely a fraudulant transaction that the courts will see through.

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  • After the fact, surely!

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  • little professor says:

    Makes you despair. What with Madoff mailing jewelery and cash to his family members and now this, you realize that the fraudsters are going to remain untouched and keep hold of their ill-gotten gains.

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  • If such a city-slicker is so worried about his personal liability, does this mean that he has got wind that the regulators or Lehman creditors have a claim pending against him?
    If so I wish them well.

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  • Now whilst these top bankers are generally greedy individuals, the finger of blame should point elsewhere in this case. These guys were doing their jobs, and the worst mistakes in their business are simply classified (in order of severity) as (1) Not following the letter of the law; (2) Not following the herd; (3) Following the herd too long. Some other bankers (retail bankers playing at investment bankers or Insurance company bosses deciding to play the hedge fund game) are far more culpable.

    If I were his wife I’d be telling him to give me the keys too – fair play Mrs Fuld.

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  • Sorry but I don’t blame him. He did nothing wrong. It’s the numbers involved that make people cry foul. If it was a small guy then everybody would be saying well done. So everybody that works the oracle on inheritance tax or any other tax mitigation is a scam artist (providing it’s over a certain amount). Some folks are hypocrits. Fuld is one scumbag but not with this one.

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  • Good man, better he keeps teh cash than the government taking it for taxes. Atleast he’ll spend it on things that really do add value to teh economy and not on pointless social experiments taking care of the leaches that I partly blame for this mess. Top stuff!

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