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UK: Secretary Stole From Goldman Bankers
Bank Of America Investment A former personal assistant to top Goldman Sachs bankers in London was behind bars on Tuesday night after being found guilty of stealing 4.4m from the personal accounts of her boss Scott Mead and two other bankers.
- My Executive Team has been invited to the Goldman Sachs 2008 Technology Investment Symposium Conference, which just so happens to be going on in Vegas. Since we have other obligations later in the night (duh, the Pepperjam Network Party!!!) we are only going to the happy hour to network with some investment bankers and potential strategic partners.
Investment Opportunity The verdict against Joyti De-Laurey ends a four month trial that illuminated the gulf between the frenetic but richly-rewarded lifestyles of investment bankers and their support staff.
"We have talked to (U.S. Treasury) Secretary Paulson and the Treasury. We have talked to Chairman (Christopher) Cox and the Securities and Exchange Commission. Goldman contends that a 14% drop in its share price and widening CDS spreads were driven by speculation. "Goldman's view is that the movement in our share price is the result of completely irrational fear and is not based on any fundamentals, " Goldman spokesman Lucas van Praag said.
Banc Of America Investment During the trial, the jury heard how Mrs De-Laurey, 35, had forged cheques and money transfers over two-years, first while she worked for Jennifer Moses - who was married to Ron Beller, another Goldman Sachs banker - and then for Mr Mead.
-he started out as an investment banker in New York, London, -Ermenegildo has turned one place into his showplace, Careyes, Mexico.
Banking Investment He had negotiated some of the biggest telecoms transactions in the 1990s, and said he had discovered the thefts when he went to make a charitable donation to a university foundation. But Mrs De-Laurey claimed that he had known about the transfers all along. One reason, she suggested, was her discretion over an extra-marital affair Mr Mead was having with a lawyer who worked at a nearby City law firm.
Earlier Tuesday, a California judge denied a request filed by Goldman's father to take Simpson's earnings from autograph signings, video games and other items to help satisfy the judgment. Judge Gerald Rosenberg gave Fred Goldman's lawyer, David Cook, one week to deliver a list of sports memorabilia items the former football star was accused of stealing from the hotel room. Some of the missing goods, including autographed footballs, were turned in Monday by Stewart, 53, of Las Vegas, before he was released on $78, 000 bail.
Investment Solution Strategic Mr Mead, who received shares worth almost 50m when Goldman went public, dismissed suggestions that he let Mrs De-Laurey draw on his funds as "absolutely repulsive", and denied ever discussing the state of his marriage with the PA.
The UK saw a borrowing boom in May, according to statistics released by the British Bankers' Association (BBA).
Investment Banking Services "I made a big mistake. I begged forgiveness from my wife. She has been great to me beyond belief," the father of five said.
Bank Investment On Tuesday Mr Mead accused his former PA of mounting "a vindictive and implausible defence".
Alternative Investment The banker, who left Goldman last year, said: "She has . . . through the case and using personal documents she admitted in court to stealing, dragged my name and that of many others through the mud."
Online Investment Services There was no dispute, however, over Mrs De-Laurey's spending - which ranged from properties in Cyprus, fast cars and a powerboat, to hundreds of thousands of pounds-worth of Cartier jewellery. Prosecutors say that considerable sums are still unaccounted for. They claimed the PA - who never earned more than 38,000 even after bonuses and perks - wanted to ape the lifestyle of the bankers she worked for.
Accompany Essential Investment After four days of deliberation, a jury at Southwark Crown Court found Mrs De-Laurey guilty on 20 counts of using false instruments - forged cheques - or obtaining money transfers by deception. On all counts, the verdict was by an 11-1 majority.
Investment Company Her husband and mother were also convicted of offences relating to the fraud. They got conditional bail, but Judge Christopher Elwen said Mrs De-Laurey's conduct had been "so dishonest" that immediate custody was more appropriate. All three will be sentenced in June.
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