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Lehman Exec Sells $13m Mansion to Wife for $100
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by Terri Potratz | January 26, 2009 at 03:35 pm
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DICK FULD BLAMES 'CRISIS OF CONFIDENCE': "This was not a lack of confidence in just Lehman Brothers, but part of what has been c
sourced by Geneva B
Former Lehman Brothers chief executive officer Richard Fuld transfered the $13.75 million dollar home he shared with his wife into her name, and Florida real-estate records show that Kathleen Fuld 'bought' the mansion for a paltry $100 USD.
The 62-year-old executive, who could face civil lawsuits after overseeing the investment bank's collapse into Chapter 11 proceedings last September, transferred ownership of the 3.3-acre seaside home to Kathleen Fuld on November 10.
It is estimated that Fuld banked close to half a billion dollars between 1993 and 2007, with a $22 million bonus in 2007 alone. He has been criticized for not doing enough to protect Lehman from bankruptcy, and was named one of the "Top Ten Most Wanted: Culprits of the Collapse" by CNN in 2008 shortly after the financial fallout.
Fuld now faces civil lawsuits after the collapse of Lehman Brothers.
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Most RecentMost Recommended Comments (1)
at 16:02 on January 26th, 2009
This perfectly illustrates the kind of corruption that got the whole world in to so much trouble to begin with. Thanks for the post.