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Hedge Funds Sue Pornographer For Making Porn On Their Dime
By
John Del Signore
Published Aug 12, 2009
Modified Aug 12, 2009
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By
John Del Signore
Published Aug 12, 2009
Modified Aug 12, 2009
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A group of hedge funds are suing Milton "Todd" Ault, the Californian C.E.O. of investment firm Zealous Inc., for allegedly blowing their $4.2 million investment on porn productions and a swingers ranch. Who is Todd Ault? Among other things, he works in adult "publishing," and his company co-produced a porn film based on Sarah Palin. (Could it beWho's Nailin' Paylin?) Lawyers for the hedge funds say their millions were supposed to be steered to an "integrated global community of trading partners." In other words, a swingers ranch! Ault vehemently denies the allegations, and insists "there was never going to be a swingers club" upstate in New Lebanon, which court papers erroneously identify as the Catskills. (It's in Columbia County, and home of the bitchin' Lebanon Valley Speedway, which ZZ Top has been known to RAWK.) Ault tells the Daily News, "These hedge funds didn't do their homework when they made their investment," and says the plaintiffs' money was lost in the stock-market collapse.
Tagged
hedge fund
nyc
Porn
todd ault
John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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Gothamist is funded by sponsors and member donations
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