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Twelve hedge funds got an eye-catching lesson in semantics when their $4.2 million investment designated for an "integrated global community of trading partners" allegedly wound up being poured into porn and the construction of a swingers ranch. Milton (Todd) Ault 3rd, a Dean Witter and Prudential alumnus, apparently sought to invest some of the hedgie money in follow up projects to his firm's, Zealous Inc., earlier cinematic masterpiece, a porn based on Sarah Palin.
"These hedge funds didn't do their homework when they made their
investment," said Ault, adding that the funds have already recouped
a chunk of the money...Last September, Ault merged Zealous into Adult Entertainment Capital Inc., a publicly traded firm that issued a press release about plans for a 140-acre East Coast project for the "fast-growing swingers lifestyle.
"Evidently plans for the sequel to Palin Erection 2008 are on hold for now.
"These hedge funds didn't do their homework when they made their
investment," said Ault, adding that the funds have already recouped
a chunk of the money...Last September, Ault merged Zealous into Adult Entertainment Capital Inc., a publicly traded firm that issued a press release about plans for a 140-acre East Coast project for the "fast-growing swingers lifestyle.
"Evidently plans for the sequel to Palin Erection 2008 are on hold for now.
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