Word: yachted
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Dates: during 2000-2009
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...until last month, Chuck Hays ran a fund called Crossfire Investment, with $5.5 million in assets. What did he do with his clients' money? What else - went out and bought himself a $4 million yacht, from which he ran the alleged scam, according to CFTC and SEC complaints. In early February, the agencies dropped anchor on Hays...
...Minnesota case, the CFTC complaint charges Hays with misappropriating investor funds to purchase a $4 million yacht, among other things. Hays could not be located for comment. "Hays ran his Ponzi scheme from his yacht but was grounded when the tide turned as federal authorities exposed this egregious fraud," said Obie in a prepared statement. When asked why the Ponzi surge is so great now, Obie said, "What you're seeing is the collapse of Ponzi funds in hard economic times - but I'm afraid as times get tougher, we're going to see new fraud develop, especially foreign-currency...
...Peninsula hotel, get invited to someone's box at the Happy Valley races. Loaf around the lobby of Jardine House, which appears in the series as Struan & Co.'s headquarters. Partake of shark-fin banquets and black-tie suppers of foie gras and lobster. Travel only by limousine, yacht and helicopter. As you conduct this princely progress, adorn your speech - as the characters are all wont to do, even if nobody in Hong Kong ever does - with copious references to "joss" (luck, from the Portuguese deus, or "god"), face (and the importance of), high finance and underworld figures with piratical...
...Chicago Democratic National Convention, came into office the same year Kerner was convicted; after he left, he started a savings and loan business and was indicted for making $1.4 million in fraudulent loans, which he used to pay personal expenses including maintenance on his 80-foot yacht. Walker pled guilty, saying, "I have deep regrets and no excuses." He was sentenced to seven years in prison but served only 17.5 months...
...Russians still seem to take the boom times for granted. Kazakov's wife's bravado is shared by many. "Some people are afraid, but I am not," says businessman Alexander (who asked that only his first name be used), as he strolls along the deck of a 58-ft. yacht wearing a shiny leather coat with a fur collar...