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Why would a banker offer their $14m home to their spouse for $100?

Previous Lehman boss accused when trying

Dick Fuld took house so money that is much many years before their company spiralled into bankruptcy which he could not also calculate just how much. Nevertheless now, the former Lehman Brothers employer is counting every penny and, while he makes for an onslaught of legal actions against him, he discovers himself during the centre of the financial secret.

Within the days after Lehman collapsed around him, triggering the worst economic panic considering that the Great Depression and causing him your own $1bn (?718m) loss on their stake within the company, Mr Fuld transferred ownership of a $14m mansion in Florida to his spouse, Kathleen. She paid simply $100, the minimum permitted by Florida legislation.

The property that is five-bedroom nestled on 3.3 acres of beachfront at gorgeous Jupiter Island, north associated with well-to-do play ground of Palm Beach, is their „seasonal getaway” and something of five houses the few very own. Continue reading ‚Why would a banker offer their $14m home to their spouse for $100?’