Lehman's Fuld sold Florida mansion to wife for $100

Discussion in 'Politics' started by ZZZzzzzzzz, Jan 26, 2009.

  1. NEW YORK (Reuters) - Fallen Lehman Brothers Chief Executive Richard Fuld sold his $13.3 million mansion to his wife for just $100 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 Chapter 11 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 $13.75 million in March 2004, as first reported by Cityfile.com.

    Fuld has been blamed for Lehman's collapse on September 15 after it was weighed down by bad assets leading to the largest-ever U.S. bankruptcy when it was unable to find a buyer to come to its rescue.

    He was widely criticized for not acting quickly enough to save the 158-year old bank.

    Though Fuld told U.S. 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 U.S. regulators and Congress.

    Fuld, who was awarded $22 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.

    (Reporting by Yinka Adegoke)
  2. fhl


    It was probably part of a larger Tony Rezko transaction.
  3. Is he blaming regulators because they did not stop him from being a stupid pig? (Not that I am defending the narcoleptic regulators.)
  4. =================
    Well i wish that gentleman would remember to get his story straight;
    used to be ''short sellers'' fault. But since that is not believeble at all, keep on blame gaming till something sticks.