Saturday, January 24, 2009

Madoff Feeder Fund Scandal Moving West

...To Los Angeles. The latest victims are 91 year-old Zsa Zsa Gabor, together with her ninth, and 30 years old younger husband, Frederic von Anhalt. Apparently the duo, competing with Kirk Kerkorian for the weirdest nonagenarian title, invested $10 million with Madoff through a Los Angeles-based money manager that has not yet been identified. And continuing the game of blame the fund-of-funds, the "money manager never told the couple about Madoff or explained the risks." The old couple's lawyer has said he is representing five clients who together have lost $35 million.

Adopted German prince Anhalt said in an interview that he and Gabor may face financial ruin, and the couple be forced to sell artwork, jewelry and their Bel-Air home. The man who claimed he may have fathered Anna Nicole's baby Dannielynn (makes perfect sense, after all another really old, really rich, or formerly rich dude) said "It's a big hole, you know. We didn't expect that. When you count on the returns, you depend on the money. It's bad. You go to get your money back and all you have is a bunch of worthless papers."

Also, the man who once was found naked, handcuffed to the steering wheel of his Rolls Royce, after allegedly being robbed by a trio of female bandits who had stolen his wallet, clothes and jewelry at gunpoint, added "My wife is close to a heart attack and I'm close to a nervous breakdown. If I was in New York I would take a baseball stick and hit this terrible man over the head." We could not describe it more eloquently ourselves.

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