Posted on 01/26/2009 4:09:17 PM PST by Wolfie
Former Lehman boss sells mansion to wife for US$100
FALLEN Lehman Brothers chief executive Richard Fuld sold his $US13.3 million mansion to his wife for just $US100 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 bankruptcy 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 $US13.75 million in March 2004, as first reported by Cityfile.com.
Mr Fuld has been blamed for Lehman's collapse on September 15 after it was weighed down by bad assets leading to the largest-ever US bankruptcy when it was unable to find a buyer to come to its rescue.
He was widely criticised for not acting quickly enough to save the 158-year old bank.
Though Mr Fuld told US lawmakers he took full responsibility for his actions and felt "horrible about what has happened to the company," he insisted he shared the blame with US regulators and Congress.
Mr Fuld, who was awarded $US22 million in compensation in fiscal 2007, stepped down as Lehman chief executive at the end of last year and did not receive any bonus or severance when he left.
Not really a problem. He didn’t sell if for fair market value so it should be easy to attach to any settlement. Of course she has it homesteaded so that makes it a little harder.
Screw him.
He gave money to Hillary and the DSCC.
Isn’t this the guy that was cold-cocked by a underling in the corporate gymn a few months ago? I guess he didn’t learn his lesson.
Wow, if/when she she sells it, the capital gains are gonna be a *itch.
The best law would be to tattoo the word “CROOK” on his forehead. Under the law, anything, I mean ANYTHING found in his possession is fair game to take or just destroy as you see fit.
Don’t let him borrow your car, don’t invite him into your house. Not unless you want to lose them. You can take his clothes right off his back...whatever you want.
Don’t lock him up. Turn him into a pauper shunned by the world. Best punishment he could have.
Rope is cheap...
A florida exemption prevents them from taking it in bankruptcy. Not sure about tax law. I’d imagine the IRS can still take it.
This would be a civil suit and I’d imagine he has some good lawyers. They couldn’t take OJs house down here.
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