plans

What makeover show in hell?

What makeover show in hell?

Remember Aubrey Lee Price? Georgian banker who screwed investors out of millions, faked his own death, was on the lam for about 18 months, during which time he set up a grow house in Florida and transformed his look from southern banker to the love child of James Lipton and Dave Navarro? Got caught when some local cops pulled him over for having illegally tinted windows? Today he was sentenced to 30 years in prison and will also be ordered to pay approximately $46 million in restitution. How will he come up with the cash? Oh, he’s got a plan. Read more »

  • 20 Mar 2014 at 2:56 PM

Dominique Strauss-Kahn Has A Dream

Dominique Strauss-Kahn, the former head of the International Monetary Fund who last year became chairman of a Paris-traded bank, is planning to raise $2 billion for a hedge fund he’s setting up…The move is part of efforts Strauss-Kahn, or DSK as he’s known in France, has been making to rebuild his post-IMF life after he was charged in 2011 with criminal sex, attempted rape, sexual abuse, unlawful imprisonment and forcible touching of a chambermaid at the Sofitel hotel in Manhattan. Strauss-Kahn, 64, denied the charges, which were later dropped, and he settled the maid’s lawsuit in 2012. Strauss-Kahn joined LSK & Partners last year as chairman to help develop the Luxembourg-based company’s franchises. The hedge fund he’s setting up, called DSK Global Investment, will benefit from “academic research and practical knowledge, both stemming from Dominique Strauss-Kahn’s experience as a public figure,” Mohamad Zeidan, LSK & Partners’ chief operating officer, said in a phone interview from Shanghai.[Bloomberg]

Back in November, UBS worked out a prettay, prettay, prettay sweet deal for itself re: Libor manipulation. Like many another bank, UBS’s employees had their way with London Interbank Offered Rate. Unlike many other bank, which faced stiff penalties for doing so, the Swiss struck an immunity deal with the EU wherein it paid a relatively small fine and then, in exchange for cooperating with authorities and “turning over information about other banks,” found itself in the clear. Anyway, that worked out so well for UBS last time that it’s decided to take the same approach with a new rate-rigging investigation, and save itself a coupla bucks. Read more »

What? Anything is possible and that would be grounds for an all-staff call. You don’t know. Read more »

  • 19 Nov 2012 at 11:47 AM

Layoffs Watch ’12: Citigroup Is On Top Of Its Firings

For those worried they’d fallen behind. Read more »

These things take time. Read more »

Make what you will of this somewhat bizarre story but our takeaway is that the Treasury Secretary’s FIL would make a great party guest and/or Benihana tablemate. Read more »

Not letting Phil Falcone’s LightSquared proceed using its authorized spectrum “would doom an innovative American start-up company,” LightSquared said in its FCC filing. “The commercial GPS device industry wants the commission to shut down an unprecedented effort to establish a nationwide wireless broadband network.” LightSquared’s plan to limit its initial operation to its airwaves furthest from GPS uses would pose no risk to more than 99 percent of GPS users, and the company is offering to underwrite “a workable solution for the small number” of GPS devices “that may be at risk,” the company said in its filing…“This issue will be resolved by good data, smart engineers and good-faith problem-solving dialog,” Sanjiv Ahuja, the company’s chief executive officer, said in a news release. [Bloomberg]

Related: Harbinger Capital Will Pay Redemptions…In Illiquid LightSquared Equity