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In The Future, Hedge Fund Manager Will Definitely Think Twice Before Transferring £600k To Her Lover's Bank Account No Questions Asked


Talke Stauss will also make sure to:

  • Ask said lover if he lives with his mom
  • Double-check to make sure the Bentley he drove her home in was in fact his, and not a rental while his 2003 Honda Accord was in the shop
  • Be a bit more skeptical of his alleged contacts in the Middle East, who required she transfer over 1 million dollars into his bank account before they would invest $1.5 billion in her (and her husband's) hedge fund.

Company chief executive Talke Stauss, 46, was so in love with Rizwan Butt she believed he was the go-between for a potential $1.5 billion dollar investment into her hedge fund, it was alleged. She also had a series of business meetings with Butt at top London hotels The Dorchester and The Ritz - not realising the 45-year old bachelor had been living with his mother in a £56,000 inner city terraced house in Longsight, Manchester. During the two month scam Butt went on "a charm offensive" with his knowledge of finance, talk of introducing investors from the Middle East and of having a Swiss bank account, it was claimed. After one meeting he drove former semi professional tennis player Mrs Stauss back to her apartment in a Bentley and later professed his love for her. When he asked for a million dollars as a returnable "security deposit' to clinch the deal, Mrs Stauss and her husband Roman, 44, agreed to transfer the money in sterling to Butt's bank account without carrying out any checks on his background, a jury was told.

The alarm was raised after Eddie George a fellow director at ATG Investment Managers Ltd found out about the deposit and was so worried, he himself researched Butt to discover he in fact ran a cleaning company with net assets of just £657. Mrs Stauss realised she had been duped when she returned from a business trip she had enjoyed with Butt in Shanghai with a plan to leave her husband - only to be faced by Mr George insisting her lover was a fraud. When Mrs Stauss asked for the money back, Butt - who had flown home early - sent a text message saying: "Talke my dear. No problem my love. They should have it by five this evening. Take care love. Kisses." Four weeks later when police caught up with Butt he was at the wheel of a black Audi Q7 carrying a wad of £1,000 in cash. He had recently bought a house for £175,000 and had a black Mercedes parked in the driveway. The Bentley turned out to be rented and before the scam he drove a 2003 Honda Accord. Before the alleged scam, Butt worked as a security guard, lived with his mother and had bought the house with a £30,000 deposit he borrowed from two friends.

For his part, Mr. Butt is claiming that his business contacts and back story are legit, that actually, this whole thing is ATG's fault, and that he'll think twice before trusting his heart to another temptress.

When arrested Butt claimed the deal fell through as ATG did not have a relevant trading licence. He denies fraud, false representation, transferring criminal property and money laundering.

Chief executive handed over £600k after being duped by lover, court hears [Telegraph]


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Back in June, hedge fund manager Daniel Shak sued his ex-wife, Beth, over assets he claimed she'd hid during the couple's divorce. Said assets were Beth's shoes, which Daniel alleged were kept in a "secret room" and were worth approximately $1 million, 35 percent of which he wanted. It was a bit unclear as to why he was going after the footwear collection three years after the two split (though using the proceeds to relaunch his fund was a possibility) but the heart wants what the heart wants. Anyway, today brings just a couple follow-ups on the Shaks, both of which are slightly more exciting for Beth than Dan. 1. He won't see a single pair of Loubs. A civil suit brought by poker professional Dan Shak against his ex-wife, fellow poker pro Beth Shak, regarding her extensive shoe collection was dismissed in a court in New York after Mr. Shak advised his attorneys that he didn’t want to pursue the issue any further...the opening arguments apparently doomed the case in the eyes of the male Shak. Ms. Shak testified to Judge Daniele that her shoe fetish grew as a response to repeated denials of emotional attention from Mr. Shak. “I would not call these shoes a collection, I would call them a sickness at a particular point in my life,” Beth Shak testified to Judge Daniele as she recounted how Dan Shak would refuse her attempts at romantic encounters, according to the Post. “I tried to get him to go to therapy with me, but it just didn’t work,” the Post quotes Ms. Shak as testifying. “I was so unhappy with my marriage that all I did was shop. There was nothing to our relationship…he and I had nothing.” Further into her testimony to the court, Ms. Shak stated that not only did Mr. Shak know about the shoes but even signed off on all the bills as they came before him. After a break following Ms. Shak’s testimony, Mr. Shak apparently had a change of heart regarding the lawsuit. His attorneys informed Judge Daniele that their client wanted to withdraw the case, which Judge Daniele quickly granted. Looking square at Mr. Shak as she dismissed the case, Judge Daniele is quoted by the Post as stating, “Well, thanks for wasting everybody’s time.” 2. She's going into the shoe business! Now that that the suit is over, Shak, who has an image of a pair of Louboutons tattooed just below her waist, is concentrating one what's next — the launch her own line of shoes. Dan Shak Drops Lawsuit Against Beth Shak Following Opening Arguments [PND] Sexy Singles 2012: Beth Shak [Philly]