Post 318226 is a great character reference, this part especially:
“I would speak to Metter, and he'd say, 'Just stick with it; it'll get better,' but it never did,” recalls Mr. Townsend, who filed a fraud claim in 1998 and was awarded $457,000 by an arbitrator.
But Mr. Metter told his client that he had no intention of paying the award, according to a suit Mr. Townsend filed in federal court in 2000. A judge confirmed the arbitration award. Still, Mr. Metter wouldn't pay, even though his compensation that year was $242,000, according to court records. Mr. Townsend ultimately settled for $30,000, which Mr. Metter paid by refinancing the mortgage held in his spouse's name on his Greenwich home.
Mr. Townsend's case was just one of several to hit Mr. Metter at about the same time. An arbitrator awarded another cheated First Cambridge client $108,000 and granted $250,000 to another defrauded customer at Mr. Metter's next firm, Madison Capital Markets. In April 2001, a month after a fourth angry investor sought $550,000 in damages, Mr. Metter filed for bankruptcy. In his petition, he listed $30,000 in assets and $5.1 million in liabilities, including a lease for a Bentley.
“Keep your mouth shut”
That is unbelievable to me. Everytime I read it my head pounds with disgust.
AI
