Convicted Former Madam A Former Hedgie

Feb 9 2009 | 1:08am 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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...