Wall Street Folly

Goldman Sachs sues ex employees over move to Credit Suisse; Euro at nearly 9 month low; Germany’s Merkel on Greece: “It’s a scandal if it turned out that the same banks that brought us to the brink of the abyss helped fake the statistics”; Top 400 U.S. earning households averaged $345 million per IRS

Posted by WSF On February - 18 - 2010
  • Goldman Sachs Sues 7 Managers for Credit Suisse Move
  • Dollar Rally Drives Euro Near Nine-Month Low as Metals Retreat
  • Merkel Slams Greek ‘Scandal’ as Goldman Role Examined
  • Top Earners Averaged $345 Million in 2007, IRS Says
  • Junk Bonds Erase 2010 Loss as Spreads Fall Most Since September Read the rest of this entry »

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Credit Suisse, Goldman Sachs, Wealth

Cautious Buffett expecting another market downturn?; LSE *HEARTS* high frequency traders; Gold sets 18 month high; Allan Sloan: Wall Street’s backsliding a year after Lehman’s fall; Goldman will become Eurotunnel’s biggest equity holder; Some tax cheats may be off the hook with Swiss / IRS deal; Feldstein op ed disses Obamacare deficits; M&A heating up with Kraft’s spurned Cadbury offer?; Speculation that Kerry Packer may look to buy U.S. casinos

Posted by WSF On September - 8 - 2009
  • Closely Watched Buffett Recalculating His Bets
  • LSE welcomes high-frequency traders as source of liquidity
  • Gold Rallies to 18-Month High on Dollar’s Weakness, Inflation
  • Greenspan Says Capital Requirements Must Be Raised
  • Allan Sloan: A Year After Lehman, Wall Street’s Acting Like Wall Street Again
  • Eurotunnel Says Goldman Fund Becomes Biggest Investor
  • Swiss Deal With I.R.S. May Hide Some Tax Cheats
  • Martin Feldstein op ed: ObamaCare’s Crippling Deficits Read the rest of this entry »

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WSF

IRS blowout auction of accused hedge fund fraudster’s Greenwich mansion

Posted by WSF On September - 8 - 2008

If you’re hankering for a bargain priced Greenwich mansion, this one, up for
auction with a $2.5 million starting price might be for you. 

The Internal Revenue Service has scheduled a foreclosure auction for Michael Lauer’s five-acre Greenwich, Conn., estate. The 7,300-square-foot home at 7 Dwight Lane is being shown in open houses today and on Sept. 25, and will be sold on Sept. 26. Bidding starts at $2.5 million, just $200,000 more than Lauer paid for the four-bedroom mansion nine years ago.

Lauer and four others were charged earlier this year with conspiracy and wire fraud for allegedly using shell companies to inflate the value of their Lancer Group hedge funds. The scheme allegedly cost investors, including a Connecticut state pension fund, more than $200 million from 1999 through 2003.

IRS To Sell Indicted Hedgie’s Greenwich Mansion
- FinAlternatives

The full description and pictures:

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Hedge funds, Legal

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