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Why would a banker offer their $14m home to their spouse for $100?

Why would a banker offer their $14m home to their spouse for $100?

Previous Lehman employer accused of attempting

Dick Fuld took house therefore money that is much the years before their company spiralled into bankruptcy which he could not also determine exactly how much. Nevertheless now, the former Lehman Brothers employer is counting every cent and, while he makes for the onslaught of legal actions against him, he discovers himself during the centre of the economic secret.

Into the days after Lehman collapsed him a personal $1bn (Ј718m) loss on his stake in the firm, Mr Fuld transferred ownership of a $14m mansion in Florida to his wife, Kathleen around him, triggering the worst financial panic since the Great Depression and causing. She paid simply $100, the minimum permitted by Florida legislation.

The property that is five-bedroom nestled on 3.3 acres of beachfront at stunning Jupiter Island, north for the well-to-do play ground of Palm Beach, is their “seasonal getaway” and another of five houses the few very very own. Continue reading