Wall Street Hooker Serves Time, Rich Screw Taxpayers Again

by RoryKearney | February 7, 2009 at 05:00 am

1004 views | 31 Recommendations | 3 comments

Spending millions of dollars for prostitiutes, is it any wonder the banks became insolvent and needed a bailout?

The taxpayer has been screwed again, and trust me, it was not the pleasurable escapade that thousands of rich johns have been indulging in, at your expense. Men from Lehman Brothers, JP Morgan, Goldman Sachs, Merril Lynch, Deutche Bank, are among the clientele.

Madam Kristen Davis served 3 months in jail, while her wealthy clientele of CEO's, Wall Street investment bankers, real estate tycoons, and other rich sex addicts, (one fellow answers the door in women's underwear), cheated the American taxpayers again.

Many paid for their $2000 + romps, swiping their corporate credit cards. Invoices were doctored, one statement said "roof repair on a warehouse".

As rich as many of them are, you would think they would dig into their own pocket and pay the tab. Not so. They think they are "entitled", and the taxpayer is left to pay for their sexcapades.

What about all the corporate taxes that were avoided, due to what was made to look like legitimate deductions?

Where are the prosecutions. Obviously women don't matter. Kristen did jail time. No men have been charged.

The sex would only have been a misdemeanor for the men, but the payments are a clear and concise case of fraud. That is a felony.

Are we living in a banana republic with a different set of rules for the rich?

Where is the outrage?

Wall Street CEOs, lawyers, bankers and media executives chalked up thousands of dollars in prostitution charges on their corporate credit cards -- swiping their cards for $2,000 an hour prostitutes, according to a New York madam who pleaded guilty last year.

Kristin Davis, the madam in question, went public to ABC News this week; ABC will be broadcasting her interview Friday at 10 pm. Davis says she has a list of 9,800 clients, many of whom she says New York prosecutors deliberately avoided when taking her case, even though she offered them her annotated client list.

In what's sure to create a media firestorm parallel to that of when a Washington, DC madam announced that she was publishing her client list (which included at least one senator), Davis' comments come at a time where incredible ire is already focused on Wall Street and banking executives. The pressure for her to release the list will certainly be immense.

But the pressure from New York's finest prosecuting team was nearly zero, Davis said.

"They showed no interest," Davis quipped, alleging that they ignored that numerous corporate titans had used her services.

"Some of these guys, I was invoicing on corporate credit cards," she said. "I was writing up monthly bills for computer consulting, construction expenses, all of these things, I was invoicing them monthly so they could get it by their accountants."

District attorney Robert Morgenthau's spokesman was said to have "no comment" on the handling of Davis' case or her allegations.

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The Ashley Dupre Bust, aka Client #9 of Former NY Governor Eliot Spitzer, led to the arrest of Kristen Davis.

http://www.nypost.com/seven/03162008/news/regionalnews/eliots_gal_a_shared_asset_102203.htm?page=0

ELIOT'S GAL A SHARED ASSET 'HOUSE-SITTER' & PARTY PAL TO GOV'S $$ MAN By LUKAS I. ALPERT and SAMUEL GOLDSMITH"James Chanos, 50, a billionaire hedge fund manager who runs Kynikos Associates in Manhattan, says he met Ashley Alexandra Dupre - the girl at center of the gov love scandal - at a nightclub several years ago and often invited her to parties, But he denied introducing her to Spitzer.

"I know her. She's a nice person," Chanos said by phone from the Bahamas late Friday night. "She is one of many young ladies I have spent time with around town. I have had her to my home [in the Hamptons], but I never dated her and I never introduced her to Eliot Spitzer. I had no idea she was a high-priced call girl."

Chanos, who was called "Uncle Jim" by Dupre, pumped close to $100,000 into Spitzer's campaigns over the past five years. He is well known on Long Island's East End for hosting weeklong Fourth of July beach parties, to which he invites scores of sultry young women."

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CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam Wall Street Exposed as Convicted Escort Boss Reveals Client List of 9,800 By ANNA SCHECTER, RHONDA SCHWARTZ and BRIAN ROSS
February 6, 2009

Excerpt

"The escort business took in as much as $200,000 a week, Davis estimated.

But it came to a screeching halt last year in the crackdown that followed the revelation that then-New York Governor Eliot Spitzer was client #9 of a rival escort service.

In a book to be released Feb. 6, "Manhattan Madam," Davis claims Spitzer had earlier been a client of her service but was banned because of his aggressive behavior trying to get girls to have unprotected sex with him.

Manhattan psychotherapist Jonathan Alpert, who works with many Wall Street clients, told ABC News that many of his clients who patronize escort services are accustomed to high risks and high stakes on the job, and seeing a prostitute, especially if one is married, provides the same rush"

Click here to see more photos.

Click here to read the documents.

See the video and read the rest of the story here >>
http://abcnews.go.com/blotter/story?id=6813806&page=1

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Other Now Public Stories by Rory Kearney

It's a Milken Madoff Mafia Markopolos World!
The Magic Madoff Show - Now You See It, Now You Don't
The Madoff Exception - Market Mystery Revealed
Hell Hath No Fury Like a Woman Ponzied
Care To Live Vs. The Prostate Cancer Advocacy Groups
Secret to Hedge Fund Profits Revealed - Laws Don't Apply to Rich
I'm Madoff As Hell And I'm Not Going To Take This Anymore!
More Prostate Cancer Smoke & Mirrors From the Broken FDA
Overstock.com CEO Throws Down the Gauntlet
Wall Street Bulldozes A Company, But FFH Won't Die!
TheStreet.Com - Captured Journalist Heaven
Madoff and the Smirking Larry Kudlow and Press
Canadian Company Fairfax Financial Attacked From Down Under
Liquidity Thy Name Is Madoff — Full Court Captured Press & SEC
Mad Dog Madoff Steals 50 Billion, Gets Bail - Tip of the Iceberg
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René

at 07:28 on February 7th, 2009

That's why prostitution is illegal, women get victimized twice. Do what the Swedes have done, make the 'johns' the criminals. They are.

Spitzer is beginning to look like he might have been targeted.

eastvanray

at 15:10 on March 4th, 2009

Or you do the right thing and respect the liberties of those who work in the sex trade and make the practice legal. That way they can join the normal tax-payers and contribute to society, qualify for health care insurance and lead normal lives. I don't understand why making porn is a legal business while prostitution isn't. I wonder if a prostitute could make their business legal simply by taking a picture of the sex act, hence turning their business into porn?

RoryKearney

at 07:36 on February 7th, 2009

Thanks for the comment René. I can't wait to see the list of names. I am betting that some of the rich johns will give her big bucks not to publish the names. I hope I am wrong.

I really want to see them clawback all the money spent on corporate credit cards and to prosecute those charging their sexcapades to the conpanies. More likely, they will offer them government positions. There I go getting cynical again. It is getting harder and harder not to.