Swindler Up To Old Tricks?
Claim: Former DiCaprio crony hiding proceeds from $150k book deal
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Swindler Up To Old Tricks?
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Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks? -
Swindler Up To Old Tricks?
AUGUST 16--Claiming that disgraced investment-adviser-to-the-stars Dana Giacchetto is up to his old fraudulent tricks, a court-appointed trustee has sued the convicted felon for allegedly trying to conceal from creditors his share of a six-figure book deal. In an August 14 complaint, bankruptcy trustee Robert Geltzer charges that Giacchetto set up a company through which he improperly sold rights to his life story (and access to his papers) to author Emily White. In turn, White signed a $150,000 contract with Simon & Schuster for a 'fascinating and intimate portrait' of Giacchetto's rise and fall as a money manager for the likes of ex-pal Leonardo DiCaprio and Cameron Diaz. According to Geltzer's complaint, an excerpt of which you'll find below, Giacchetto's deal with White calls for him to receive half of the book's advance, which is to be doled out by Simon & Schuster in four separate payments. Geltzer claims that Giacchetto's straw company has already banked more than $25,000 and that Simon & Schuster will soon pay $40,000 upon delivery of the book's manuscript (a combined $50,000 in additional payments are due upon publication of the book and its subsequent paperback edition). Geltzer notes that Giacchetto's 'clandestine scheme' was 'intended to hinder, delay, or defraud' his creditors, to whom the ex-jailbird owes more than $14 million in restitution. The lawsuit reports that Giacchetto's front company, Legis, LLC, has used book proceeds to make 'fraudulent disbursements' to American Express, a law firm, and Giacchetto himself. Additionally, Geltzer contends that Giacchetto, who served 28 months in federal custody for his swindles, has repeatedly attempted to stymie court-ordered reviews of his assets and finances. (10 pages)
