http://www.nydailynews.com/money/2009/08/12/2009-08-12_stiffed_for_porn_sez_hedge_funders_suit.html#ixzz0O0NuhJRg

Quote:

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A California moneyman with X-rated interests is being sued by several hedge funds who accuse him of shoveling their millions into porn and a planned Catskills swingers ranch.

Milton (Todd) Ault 3rd is charged with stiffing a dozen hedge funds on a $4.2 million investment with his firm Zealous Inc.

The Manhattan Supreme Court suit says the money was supposed to be steered to an "integrated global community of trading partners."

"The financing was a scam," the suit says. "He intended to, and did, use plaintiffs' money to fund [his] lifestyle, which included the development of a 'swingers ranch' in the Catskills and other pornographic-related endeavors."

Ault, whose online bio boasts that he has traded stocks since he was 11, has dabbled in adult entertainment, and his company co-produced a porn flick based on Sarah Palin.

He declared the suit "worthless" and said any talk of a swinger hideaway in New Lebanon, N.Y., was a "joke."

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Newflash, NY Times, last time I checked, New Lebanon was near the north end of the Taconics - NOT the fucking Catskills.

(We used to take the long way to Vermont as a kid, b/c my dad hated the NY Thruway).