Never underestimate the power of a private equity executive whose office is decorated with whips, handcuffs, Hashemite daggers, and "a portrait of her stretched across the hood of a black Mercedes."
An appellate court has temporarily put a hold on an administrative securities fraud action filed against the private equity financier Lynn Tilton. A three-judge panel of the United States Court of Appeals for the Second Circuit in Manhattan imposed the stay on Thursday while considering Ms. Tilton’s challenge to a decision by the Securities and Exchange Commission to try her before an administrative law judge...Ms. Tilton, one of Wall Street’s more colorful personalities, is accused by regulators of defrauding her investors by concealing the poor performance of assets her firm had invested in. Ms. Tilton, who calls herself “the turnaround queen," gained celebrity on Wall Street when she sent a racy Christmas card to some of her clients in the late 1990s. On the card, a scantily clad Ms. Tilton posed in knee-high boots while holding a whip.
You want a piece of this? YOU GOT IT.