Chicago-Area Investment Manager Is Incorrigible Maggot, Says His Grandfather

Allan Ash, pictured at left, is 95 years-old. He’s lived through the Great Depression.  Hitler’s rise to power. Pearl Harbor. Korea. The assassination of John F. Kennedy. He’s got heart problems. Water on his lungs. No use of his legs. He lost his sight several years back. But you wanna know the biggest disappointment of his life? The fact that his grandson turned out to be a two-faced rotten bum who should count his lucky stars grandpa is only going after his ass in court and not on the streets.

In papers filed in Manhattan Supreme Court, Allan Ash, 95, said he had just one condition when he gave the money to Geoffrey Richards earlier this year — that if he recovered from heart problems and needed any of the money back, his grandson would give it to him. Ash did get better and asked for $200,000 back in early April — but Richards refused to pay him a dime, court papers say. Now the grandfather who says he treated Richards like a son is suing to get back every penny. “He is a scoundrel. He loves money,” the fuming retired CPA said at his East Side home yesterday. “He is the greatest disappointment in my life.”

[Ash paid] for a fancy boarding school for Richards, as well as college and law school, court papers read. He also paid for Richards to take vacations in places like Israel, Amsterdam, Greece, Italy and Sweden, the suit continues. After Richards’ graduation, Ash “continued to try and make life easier” for his grandson, giving him $600,000 over the past 14 years, according to the lawsuit. The money helped make Richards a success — he’s a managing director at a global investment firm in Chicago, making over $1 million a year, court papers say. He’s also the grandson Ash had wanted to handle his affairs when he died, so when heart problems and water on the lungs had him thinking the end was near this past spring, he loaned Richards the $950,000 — some of which he hoped would be used to arrange his own funeral services…When Ash got better, he asked for $200,000 of the money back, and Richards — who lives in a multimillion-dollar home by himself — refused, the suit says. “Lightning struck my heart,” Ash recalled. “I was enraged, betrayed.” He said he now plans to have another grandson who lives in New York handle his affairs, and wants the money back for that grandchild and another relative.

According to a profile of Richards, colleagues say he’s a “chiseled workout guy” who “chicks dig” and “a real gentleman in a kind of Wild West business,” claims his grandfather will hopefully address in court.

Richards Lawsuit [PDF]
‘Heart woe’ CPA says kin reneged on $950K loan [NYP]
Spoiled Grandson Won’t Return My $950K, Angry 95-Year-Old Grandpa Says [DNAI]
40 Under 40: Geoffrey Richards [Crain’s]

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10 Responses to “Chicago-Area Investment Manager Is Incorrigible Maggot, Says His Grandfather”

  1. guest says:

    Grandpa will get his coin back just as soon as Groupon shares recover.

    – GR

  2. PermaGuestII says:

    "$950,000 — some of which he hoped would be used to arrange his own funeral services"

    That's one hell of a funeral.

  3. K. Lear says:

    How sharper than a serpent's tooth it is to have a thankless child! You go, old man!

  4. Guest says:

    Listen pops, when the money's gone it's time to pass on.

    – Chiseled Workout Guy

  5. Ashwhole says:

    Just another pain in the ash

    B Frank

  6. CME says:

    very few jews at william blair.

  7. UBS Parable Quant says:

    If this poor coot gets his shekels back, headline should read "Man Unrings Bell"

  8. VonSloneker says:

    There's gym strong, and then there's old man strong

  9. Guest says:

    what a scum bag. the guy works at W. Blair in Chicago … making tons of $$ himself and named to the Crains Chicago Top 40 under 40 list … so I am sure he is more than well off! Again… scum bag who should be on the streets himself!