Convicted Former Madam A Former Hedgie

Feb 9 2009 | 2:08am ET

Kristin Davis, who ran a prostitution ring that counted former New York Gov. Eliot Spitzer among its clients, says she became a madam after being fired from her job at a hedge fund.

In an interview with ABC’s “20/20” that aired Friday, Kristin Davis said she got her start in the world’s oldest profession after her firing by an unidentified hedge fund. She spent three months in jail, and pleaded guilty to promoting prostitution.

Davis’ former life as a hedge fund employee is not her only link to the world of alternative investments. According to ABC, Davis’ client list included “the CEO of one of the country’s largest private equity firms who met ‘Cameron’ at the Peninsula Hotel” in New York. And she says her Wall Street clients were not especially discreet about using her services.

“Some of these guys, I was invoicing on corporate credit cards,” she said. “I was writing up monthly bills for computer consulting, construction expenses, all of these things, I was invoicing them monthly so they could get it by their accountants.”


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...