Convicted Embezzler Remains Stuck in Chapter 7 Bankruptcy Case
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Convicted Embezzler Remains Stuck in Chapter 7 Bankruptcy Case

August 2, 2012

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A convicted embezzler who spent nearly two years in prison for stealing $43 million from Merrill Lynch has returned to the world of finance, but is currently hindered by a prolonged Chapter 7 bankruptcy case, according to a report from the San Francisco Chronicle.

After leaving prison in 2007, Daniel Gordon smoothly transitioned back into the business world, finding a niche where he loaned money to professional athletes at exorbitant interest rates. Business was so good, in fact, that he started making business deals worth several millions of dollars, sources say.

But Gordon’s rebirth as a legitimate businessman has been crippled by several allegations of theft against him and a Chapter 7 bankruptcy filing that has lasted longer than three years, mostly due to Gordon’s own alleged faults.

Still, despite the allegations of fraud, Gordon is now the managing partner of a New York investment firm, and sources are careful to note that he also lives in a “posh apartment building” in a tony part of Manhattan.

While Gordon may pin the blame for his current financial difficulties on his long wait to enter life after bankruptcy, his ex-wife believes he holds all the responsibility.

According to a document filed in his bankruptcy case by his former wife, Laura Gordon, when he left prison, Daniel Gordon “wasted no time resuming his fraudulent behavior,” and allegedly drew $3.5 million from her personal line of home equity credit without her permission.

A court found that he had indeed taken this money unlawfully, and he was forced to return the money to his former wife. In addition, the bankruptcy trustee in his case has accused Gordon of hiding more than $7 million from his creditors through financial subterfuge.

And while Gordon’s ex-wife is upset with Gordon, he has also drawn allegations from Eddy Curry, a professional basketball player in Miami who claims that Gordon loaned him money that he had stolen from Laura Gordon in order to conceal its origin.

Gordon reportedly loaned Curry $570,000 at an incredible 84 percent interest rate, which is much higher than the legal interest rate maximum allowed in Nevada, where the loan was made.

Curry defaulted on the loan in 2008 and was ordered to pay Gordon $1.2 million in principal and interest, but Curry has asked the bankruptcy court in the current case to void the loan.


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