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| Out on 50 million dollar bond http://fugitiverecovery.com/forum/viewtopic.php?f=13&t=1162 |
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| Author: | jtaylor4141 [ Fri 14 Oct 2005 12:05 ] |
| Post subject: | Out on 50 million dollar bond |
I was just reading the local NY paper when I saw this article about a Commidities broker named Phillip Bennett he's the former chairman and and CEO of REFCO.He was released on a 50 million dollar bond yesterday.He allegedly tried to hide 545 million in bad debt.Imagine that We'll have to see how this case works out |
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| Author: | mi_agent [ Sat 15 Oct 2005 06:51 ] |
| Post subject: | |
Bladerunner13 wrote: Boy, do I have things I could do with 10% of that
 You're not kidding, BR! My wife and kids would certainly be happy for a long while. Of course, ol' dad would be setting-up for an early Xmas present. Seriously... I know those high stake bonds rarely exist, besides the fact of having PLENTY of collateral tied to them. The 10% sure serves as an inspiration though. Take Care |
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| Author: | rex [ Tue 18 Oct 2005 07:56 ] |
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Wow. That's not the type of bond that could be written in a few minutes. I'm guessing a 72-hour minimum just to get the underwriting lined up, and then a court hearing would have to be held to make sure that the premium money came from a legitimate source or sources. I know of one company that posted a $5,000,000.00 bond, but the surety required that the client be escorted 24-hours daily until the bond cleared. 50 Mil could put everyone involved out-of-business. 
Rex |
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| Author: | jtaylor4141 [ Tue 18 Oct 2005 15:42 ] |
| Post subject: | |
There has been a lot in the local paper about this particuliar Individual he's being put in the same catagory as the Enron scandal.There's a lot money involved Millions! I just can't believe somebody would float that kind of Bond.If he skips town I could use the money |
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| Author: | HoundDog [ Tue 18 Oct 2005 16:04 ] |
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It goes without saying, who could'nt use the money? |
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