Too Clever By Half

Author:
Publish date:
Updated on

Yes, we are sure that you thought you were very clever when you leased instead of bought that brand new, $115,000 Maserati. We know that you sat back in those leather seats and started with your best Johnny "Sack" Sacramoni impression while trying to catch a glimpse of yourself in the street level window reflections (later it was more like shooting up in a dark parking lot Moltisanti style- but we digress). Well, that wasn't going to last. You weren't that clever. You did manage to fulfill your Johnny Sack fantasy, however. Didn't you?

It won't get investors allegedly defrauded by Arthur Nadel back any of their money, but a federal judge has ordered one of the hedge funds he ran to turn in the keys to its Maserati.
The move to end Viking's lease of a 2008 Maserati GranTurismo came at the request of court-appointed receiver Burton Wiand. Wiand said the $114,640 sports car, which is guaranteed by Viking principal Christopher Moody, won't get Viking investors an extra dime, since the firm has no equity in the car. Nadel managed Viking's hedge funds under a subadvisory arrangement.

Judge: Nadel-Advised Fund Must Return Its Maserati [FinAlternatives]

Related