Word: cornfeld
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...when he was only 35, Vesco set his eyes on Investors Overseas Services, a floundering mutual fund run by playboy-salesman Bernard Cornfeld. Touting his expertise in setting up ICC (by then a conglomerate of several companies) Vesco came in with a $5 million bail-out and was hailed as IOS's savior. Very quickly, however, IOS funds were mysteriously misdirected. By the time the sec was ready to indict Vesco, the financier was gone, having taken his loot and his family, his yacht and his planes, to Costa Rica...
DIED. BERNARD CORNFELD, 67, financier; from pneumonia; in London. Cornfeld rose from the driver's seat of a Brooklyn cab to the helm of a financial empire. But his high-living, high-stakes universe evaporated in 1970 after his mutual-fund company went public, leading to a collapse that cost Cornfeld and his investors millions and landed the smooth-talking fallen star in prison. He was ultimately acquitted of embezzlement...
Heidi is so proud of her notoriety that it might be impossible for her to remain silent. After all, she worked hard to reach her eminence. A high school dropout, she was 19 when she met big spender Bernie Cornfeld, the financial impresario who in the 1970s was accused and then acquitted of fraud when his $2 billion mutual-fund empire collapsed. Bernie and Heidi were just good friends, so to speak, living it up, jetting around Europe. After they split, Heidi met Nagy, who introduced her to Hollywood brothel-keeper Elizabeth ("Madam Alex") Adams. Heidi said she was merely...
...generation later came Bernie Cornfeld with his exhortation, "Do you sincerely want to be rich?" His company, Investors Overseas Services, specialized in mutual funds. "We're in the business of totally converting the proletariat to the leisured class," Cornfeld boasted. An IOS manager recalled the process in less exalted terms: "We bought stocks at $90, not because they were worth $90, but because we believed that tomorrow they would be at $120. When we went home nights, we just hoped the goddam company would still be there in the morning...
...morning the goddam company was not there. The vastly overextended IOS had fallen victim to the bear market of 1970. So had Cornfeld, who gave up his castles in France and Switzerland, as well as his jet and Rolls-Royce. Today he is dealing real estate in Europe, his celebrated harem now "down to sort of a skeleton crew of three or four...