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Wall Street Husband Allegedly Rips Off $6 Million from His Investors to Pay His Divorce Lawyers Half a Million Dollars, His Credit Cards and His Multi-Million Dollar Hamptons Home Mortgage

By Janet Langjahr

Some divorces can start to get kind of expensive.

Take Husband’s.

He apparently owed his divorce attorneys roughly $500,000.

On top of that, he was also behind on his credit cards … and the mortgage on his multi-million dollar house in the Hamptons.

It’s also possible that he was going to have to pay some money to Wife.

He was likely feeling overextended, even overwhelmed by his obligations.

Now, the Securities and Exchange Commission (SEC) is reportedly charging him with duping investors with a false claim of ties to royalty, and then diverting over $6 million of their funds to pay his personal legal bills, credit cards and mortgage.

The SEC has also secured a court order freezing Husband’s assets.

If it succeeds, the SEC is looking to impose fines on, and extract restitution from Husband.

Husband has closed up shop now.

He reportedly has not retained counsel in the SEC case, at least not yet.

Read more in this Canadian Business article: SEC accuses money manager of fraud in investments claimed linked to royal family of Belgium and this New York Daily News article: Guy Albert de Chimay makes off with $6M, made bogus claim to be Belgian royalty: Feds.

Full post as published by Florida Divorce - Child Custody - Domestic Abuse Law on June 16, 2010 (boomark / email).