Bernard Cornfeld Net Worth is
$250,000

Mini Biography

Bernie Cornfeld was a renegade financier whose Swiss-headquartered shared fund company, Traders Overseas Providers, a finance of money, collapsed in the first 1970s. Accumulating capital of $2.5 billion by offering funds to small investors, primarily to American servicemen living overseas, Cornfeld was brought low with a bearish currency markets that cut his capability to come back dividends to investors and eroded the worthiness from the stocks kept in the funds. To hide his liabilities, Cornfeld was pressured to make a short public providing of IOS share. Another bear marketplace in 1970 noticed the price tag on IOS stocks drop from $18 to $12, and traders started bailing out. Further compounding his issues, IOS was looted of $500 million by Robert Vesco, who had offered his providers being a white knight and ended up being not. Vesco fled america for the Bahamas, and finally resolved in Cuba to remain from the lengthy arm of regulations. The price tag on IOS shares fell to $2 as today all its traders tried to market off their stocks. The collapse of IOS caused bank failures in america and Europe. Cornfeld, who longed to be always a movie director, resided the life of the pasha in Beverly Hillsides, surrounded by gorgeous females, of whom Victoria Primary was one. He partied with famous brands Tony Curtis and Hugh M. Hefner, but his reputation declined together with his income. Subsequently, he offered 11 a few months in prison in Switzerland after getting imprisoned in Geneva for scams, as by the end, he essentially was owning a Ponzi system. Cornfeld returned to Beverly Hillsides, but was never again in the general public spotlight, as he previously been by the end from the swinging Sixties and in the first ’70s. He passed away in 1995.

Known for movies