Deal of the Decade? Lehman's Fuld Gave $13.75 Mil Estate to Wife for $100
Transfer Could Be Effort to Avoid Potential Creditors, Attorneys Say
By MEGAN CHUCHMACH
January 26, 2009
The Blotter
ABC News
Less than two months after the investment banking firm he led collapsed in the largest bankruptcy in U.S. history, Lehman Brothers CEO and Chairman Richard Fuld transferred his $13.75 million ocean front estate in Jupiter Island, FL to his wife for just one Benjamin Franklin bill, Florida real estate records reveal.
Fuld certainly knows how to look out for #1:
Nell Minow, the editor of the research firm, The Corporate Library, highlighted Fuld's compensation, which exceeded $70 million last year.
"I think it is fair to say by any standard of measurement that this pay plan is as uncorrelated to performance as it is possible to be," she said.
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