CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

[FRED]

CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

Wall Street Exposed as Convicted Escort Boss Reveals Client List of 9,800

By ANNA SCHECTER, RHONDA SCHWARTZ and BRIAN ROSS

Wall street lawyers, investment bankers, CEOs and media executives often used corporate credit cards to pay for $2,000 an hour prostitutes, according to the madam who ran one of New York's biggest and most expensive escort services until it was busted last year

But prosecutors in the Manhattan District Attorney's office chose not to pursue any of the corporate titans, says Kristin Davis, who pleaded guilty last year to charges of running a prostitution business that used more than a hundred women.

The Clients

Among the names ABC News was able to confirm on the list:

a vice president of NBC Universal
the part owner of a Major League Baseball team who "loves Kelsey"
the CEO of one of the country's largest private equity firms who met "Cameron" at the Peninsula Hotel
a major New York real estate developer who, according to the list, "will come to the door wearing women's panties," and who spent nearly $100,000
a partner at the Wall Street law firm Cravath Swaine Moore "looking for a party girl to come fully equipped" and spent a total of $20,000
an investment banker from Lehman Brothers who saw "Kelsey and Keely together" and later saw "Aria and Skyler at the same time"
an investment banker at JP Morgan Securities who "loves Brooke" and spent $41,600
an investment banker at Goldman Sachs who "only wanted all-American girls" and spent $27,000
a managing director from Merrill Lynch who saw "Lana" using the name "Nataly"
a managing director from Deutsche Bank "who called about seeing Nataly again"

A spokesman for JP Morgan said the company is looking into the matter.

Watch the story tonight on 20/20 at 10 p.m. ET

more...

[cjppjc]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

To me prostitution like drug use should be decriminalized. Who cares what people do behind closed doors. Now using corporate credit cards, that's a problem for the employer. If people are charging $2,500 for back rubs by Bambi. You've got to be stupid not to see it on his expense report. Or maybe they were allowed to spend X amount every month so no one checked.

Btw: What's with those links Fred? Are the first people indentified in the articles the alleged criminals?

[jtabeb]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

Wall Street Exposed as Convicted Escort Boss Reveals Client List of 9,800

By ANNA SCHECTER, RHONDA SCHWARTZ and BRIAN ROSS

Wall street lawyers, investment bankers, CEOs and media executives often used corporate credit cards to pay for $2,000 an hour prostitutes, according to the madam who ran one of New York's biggest and most expensive escort services until it was busted last year

But prosecutors in the Manhattan District Attorney's office chose not to pursue any of the corporate titans, says Kristin Davis, who pleaded guilty last year to charges of running a prostitution business that used more than a hundred women.

The Clients

Among the names ABC News was able to confirm on the list:

a vice president of NBC Universal
the part owner of a Major League Baseball team who "loves Kelsey"
the CEO of one of the country's largest private equity firms who met "Cameron" at the Peninsula Hotel
a major New York real estate developer who, according to the list, "will come to the door wearing women's panties," and who spent nearly $100,000
a partner at the Wall Street law firm Cravath Swaine Moore "looking for a party girl to come fully equipped" and spent a total of $20,000
an investment banker from Lehman Brothers who saw "Kelsey and Keely together" and later saw "Aria and Skyler at the same time"
an investment banker at JP Morgan Securities who "loves Brooke" and spent $41,600
an investment banker at Goldman Sachs who "only wanted all-American girls" and spent $27,000
a managing director from Merrill Lynch who saw "Lana" using the name "Nataly"
a managing director from Deutsche Bank "who called about seeing Nataly again"
A spokesman for JP Morgan said the company is looking into the matter.

Watch the story tonight on 20/20 at 10 p.m. ET

more...

Ah, so THAT's wehre the TARP funds are going!:p

[FRED]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

To me prostitution like drug use should be decriminalized. Who cares what people do behind closed doors. Now using corporate credit cards, that's a problem for the employer. If people are charging $2,500 for back rubs by Bambi. You've got to be stupid not to see it on his expense report. Or maybe they were allowed to spend X amount every month so no one checked.

Btw: What's with those links Fred? Are the first people indentified in the articles the alleged criminals?

"Among the names ABC News was able to confirm on the list..."

[don]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

Cold Comfort for the once-zealous prosecuting Governor of New York, Eliot Spitzer

[LargoWinch]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

Ah, so THAT's wehre the TARP funds are going!:p

And me who thought that a "TARP" was to cover things up.

[cjppjc]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

"Among the names ABC News was able to confirm on the list..."

It's ok, I really don't care. But next time could you be a little more vague.

Thanks.

[D-Mack]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

at least Goldman is patriotic

an investment banker at Goldman Sachs who "only wanted all-American girls" and spent $27,000

Using corporate credit cards seems to me a bit riskier by giving your name and employer. Or am I just imagening that it was easier to hide 40 years ago ?

Having taken over Madeleine’s business, the first thing I had to do was reorganize her black book to conform with my own listing system. Her book had hundreds of listings of clients, their price, credit rat*ing, erotic preferences or aberrations, and sometimes even their dimensions. Most of the men, naturally, had aliases or were given them by Madeleine.
Some men were listed by their preference in liquor, such as Red Label, Mr. Cutty, or Mr. Sark. Some invented their own aliases, like Marco Polo, Plato, Aristotle, Caesar, and the more ordinary Mr. White, Mr. Black, Mr. Brown, Mr. Green.
Some of the names these aliases disguised were very famous indeed. The book was such a celebrity‑packed register it could make the society columns look like a truck driver’s time sheet.

...

Just as I keep all my financial records in my red book, in the black book I keep all the information about my customers. Names, addresses, telephone numbers. If I have a home phone number, I put it in brackets to remind me not to call unless in an emergency like a bouncing check. I keep little notes on the johns, such as whether they spend fifty or a hun*dred dollars, if they want two girls at a time...



Hollander, Xaviera (1971), The Happy Hooker

I hope she doesn't end up like the DC one

[Sharky]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

With CEOs and bankers involved, it seems highly unlikely to me that all of those credit card payments were just for sex, particularly at such outrageous prices. Who better to provide kickbacks than a hooker?

[FRED]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

It's ok, I really don't care. But next time could you be a little more vague.

Thanks.

What do you mean?

[cjppjc]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

What do you mean?

I mean the links are to articles that sometimes have a name of a person affiliated with the company mentioned in the link. Sometimes not. As I said before (although if I keep protesting too much, who will believe me.) I really don't care.

Let's hope this thread disappears soon, as my vicarious interest is becomming laughable.

[metalman]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

I mean the links are to articles that sometimes have a name of a person affiliated with the company mentioned in the link. Sometimes not. As I said before (although if I keep protesting too much, who will believe me.) I really don't care.

Let's hope this thread disappears soon, as my vicarious interest is becomming laughable.

the links are from the original story.

[vanvaley1]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

My tax dollars are paying for other guys to have sex with gorgeous woman? Is there any binding reciporal agreement clause in the bailout contracts?

[bpr]

Re: CEOs, Bankers Used Corporate Credit Cards for Sex, Says New York Madam

"Some of these guys, I was invoicing on corporate credit cards," she said. "I was writing up monthly bills for computer consulting, construction expenses, all of these things, I was invoicing them monthly so they could get it by their accountants," Davis said.

This is the trouble with accountants. They ask too many questions, which leads their clients to make fraudulent claims.

I would argue that the stress relief this madam provided did more good for corporate profits than any alleged construction could have.