Why would a banker offer their $ house that is 14m their spouse for $100?

Why would a banker offer their $ house that is 14m their spouse for $100?

Dick Fuld took house therefore money that is much the years before their company spiralled into bankruptcy which he could not also determine exactly how much. However now, the former Lehman Brothers employer is counting every penny and, at the centre of a financial mystery as he prepares for an onslaught of lawsuits against him, he finds himself.

Into the months after Lehman collapsed around him, triggering the worst economic panic considering that the Great Depression and causing him an individual $1bn (?718m) loss on their stake when you look at the company, Mr Fuld transferred ownership of the $14m mansion in Florida to their spouse, Kathleen. She paid simply $100, the minimum allowed by Florida legislation.

The property that is five-bedroom nestled on 3.3 acres of beachfront at breathtaking Jupiter Island, north associated with well-to-do play ground of Palm Beach, is their «seasonal getaway» and another of five domiciles the couple very own.

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As information on the transfer emerged yesterday, Wall Streeters and solicitors speculated that the few might be attempting to shield as much of the assets as you can from legal actions, including bankruptcy procedures. Mr Fuld stayed on at Lehman Brothers to help with bankruptcy procedures here, until the end of December. Читать далее «Why would a banker offer their $ house that is 14m their spouse for $100?»