Friday, February 06, 2009

Masters of the Universe Poke Into Tax Fraud

20/20 kinda likes the story.

(By the way, if you are not familiar with the phrase "Masters of the Universe," then you should--REALLY should-- read Tom Wolfe's novel Bonfire of the Vanities.)

Wall street lawyers, investment bankers, CEOs and media executives often used corporate credit cards to pay for $2,000 an hour prostitutes, according to the madam who ran one of New York’s biggest and most expensive escort services until it was busted last year.

But prosecutors in the Manhattan District Attorney’s office chose not to pursue any of the corporate titans, says Kristin Davis, who pleaded guilty last year to charges of running a prostitution business that used more than a hundred women

Offhand, I'd guess that the Manhattan DA's office is the wrong venue. The US Attorney/NYC might be far more interested, especially these days. And, of course, for State taxes, the AG/NY State...

Morrissey conveys a few details:

Merrill Lynch: managing director
Deutsche Bank: managing director
Goldman Sachs: investment banker
JP Morgan: investment banker
Lehman Brothers: investment banker

Insta-Poll: Which party more deserves the monicker "whore"?


Dan said...

In hindsight, Do you think Elliot Spitzer, before he was governor in NY, might have been on to something when he was proscuting companies and indviduals on wall Street?

Dad29 said...

Generally speaking, yes.

But I'm not so sure that he did the right thing with Strong Funds.