Daddy’s Girl Redux

Wall Street has long been an incestuous place.

Literally

The most bizarre story on the Street last year involved hedge fund manager D. Bruce McMahan and his relationship with his biological daughter. The revelations have put a hurt on McMahan’s assets under management, which are about half of the $4 billion he managed prior to the story surfacing. Tomcatting money managers are nothing new; but most clients know where to draw the line. McMahan crossed it:

McMahan, now 68, only learned of his daughter Linda’s existence in 1990, when she was a 21-year-old college student. She had been put up for adoption by a woman that McMahan had a brief fling with in the late 1960s, and she had contacted him when she wanted to learn the identities of her biological parents. After a paternity test established their biological tie, McMahan welcomed Linda into his family and funded her college and post-graduate endeavors.

McMahan already had six other children by three different women (he has nine children today). He was a wealthy money manager, maintaining homes in Pelham in Westchester County and on Fisher Island, a wealthy enclave off of Miami. It was at the Pelham house that Linda claims her father first began seducing her, in 1998. She testified that they had sex for the first time in a hotel in London that year on a business trip, and that they carried on an incestuous relationship practically up to the day she married another man, Sargent Schutt, in 1999. After breaking off their affair for a few years, Linda testified that it started up again when McMahan brought her to Fisher Island to recuperate after an illness.

The Village Voice is back with an update to the story this week, focusing on the shabby treatment McMahan has been doling out to to a woman he married before wedding his daughter. That would be wife number four. Or is it five? Six?

Warning: While this story is beach reading, it could make you more nauseous than a slow ferry ride to Nantucket:

Daddy’s Dog
Village Voice

Daddy’s Girl
Village Voice

Broward-Palm Beach New Times
The Full Story
--------------------------------------------------------------------------------------------------------------
The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.

Comments:

<< Back to main