Why would a banker offer their $ house that is 14m his spouse for $100?

Why would a banker offer their $ house that is 14m his spouse for $100?

Dick Fuld took house so much profit many years before his company spiralled into bankruptcy which he could not also determine simply how much. However now, the former Lehman Brothers employer is counting every cent and, while he prepares for the onslaught of legal actions against him, he discovers himself during the centre of the economic secret.

When you look at the months after Lehman collapsed him a personal $1bn (?718m) loss on his stake in the firm, Mr Fuld transferred ownership of a $14m mansion in Florida to his wife, Kathleen around him, triggering the worst financial panic since the Great Depression and causing. She paid simply $100, the minimum permitted by Florida legislation.

The five-bedroom home, nestled on latin brides 3.3 acres of beachfront at stunning Jupiter Island, north of this well-to-do play ground of Palm Beach, is their “seasonal getaway” and another of five houses the few very own.

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