Would You Invest With Client No. 9?
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According to today’s New York Sun, Eliot Spitzer, the disgraced former New York State governor once heralded as Sheriff of Wall Street, is mulling launching a distressed real estate fund.
The story, quoting an unnamed source, says Spitzer has already made a presentation to potential investors, noting that he wants to take his father’s “ailing real estate company to the ‘next level.’” You don’t necessarily need a Series 7 when working for an asset manager, but, if you solicit investors, you should probably get a Series 7. But, given the laws Spitzer allegedly broke in transporting a prostitute across state lines, would Spitzer be allowed to get a Series 7 under Section 15 (4) of the Securities Exchange Act of 1934 ?
