Friday, April 13, 2012

Forgive Me Father For I Have Ponzi'd

"Soon, the clergyman who collected rare valuables, who was driven around in a fancy car and who boasted of lecturing at the University of Oxford, was served three different search warrants and questioned by the FBI.

He traveled to the UK six times a year or more. As Stajduhar recalls, he would regularly pay up to $6,000 for a roundtrip ticket in first class.

According to documents from an Ohio-based insurance company, Sigillito owned a fifteenth-century book from Germany, insured for up to $120,000. His copper oil lamp, unearthed in the Holy Land some 2,000 years ago, was valued at nearly $30,000.  He also collected expensive antique maps, Persian rugs and British jewelry. Stajduhar says he was the kind of man who spent $5,000 on a bottle of wine, $1,500 on a pen and hundreds of dollars on lingerie (purchased for whom, she did not know)."

More from my "oh, how the once mighty are falling" file.


1 comment:

  1. "We're stuck in the high school mentality," she says. "Everybody wants to be popular in the group, talking about how smart they were to invest. And, there's a lot of trust here. A shocking amount."

    I laughed out loud on this - describes the ex-Mrs. Bing to a T

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