Herman Finesod
Network
Herman Finesod
Timeline
All Connections
5 total
All Connections
5 totalBernard was manager/board member of Jackie Fine Arts Inc, founded by Finesod. Gold and Wachtel represented both JFA and Epstein.
Bernard Indyke was manager or board member of Jackie Fine Arts Inc which was wholly controlled by Finesod through M and J Holding Corp. Gold and Wachtel represented both Finesod in litigation and employed Bernards son Darren Indyke starting circa 1986
Wachtel was on brief as defense counsel for Finesod in Faircloth v Finesod 4th Cir 1991 RICO appeal. Gold and Wachtel defended Finesod 409M art fraud case.
Bernard was manager and board member of Jackie Fine Arts Inc controlled by Finesod. Finesod ran 409M art master tax shelter fraud. Gold and Wachtel represented both.
Gold and Wachtel was both Darren Indykes first employer circa 1986 and Finesods defense counsel in the Jackie Fine Arts fraud litigation. The firm defended Finesod in the 4th Circuit appeal of a 4.3 million RICO judgment. This creates a direct professional chain: Finesod controlled Jackie Fine Arts where Bernard Indyke was manager, Bernard placed Darren at Gold and Wachtel which defended Finesod.
All Findings
5 total
All Findings
5 totalfinancial (1)
M and J Holding Corporation owned Jackie Fine Arts with 1.33 billion in assets on 1986 tax return
Per footnote 1 of Faircloth v Finesod 938 F.2d 513: Jackie Fine Arts Inc is wholly owned by M and J Holding Corporation a company owned by Finesod. M and J 1986 tax return showed assets of 1.33 billion dollars. This reveals that the Jackie Fine Arts fraud was part of a larger Finesod corporate empire. Additionally Finesod had previously run the Hambrose Stamp tax shelter described in footnote 2 as similar to the art master scam except with rare postage stamps and had represented a Finesod-controlled entity in previous shady dealings.
legal (3)
Herman Finesod was serial tax shelter fraud promoter. Before Jackie Fine Arts art masters he ran Hambrose Stamps Ltd (stamp masters tax shelter). US govt sued under 26 USC 6700 for promoting abusive tax shelters. Stamp masters acquired for 3.60 each sold to investors at 106-207K. Over 160M in Philatelic notes. Also involved Museum Boutique Intercontinental copyright disputes. Total judgments against Finesod exceeded 9M and against JFA exceeded 5M.
Herman Finesod (Jackie Fine Arts founder, King of Tax Shelters) appears in 16 SEC EDGAR filings - all related to Electronic Control Security Inc (CIK 0000803044, Clifton NJ, SIC 3669) and MFC Development Corp (CIK 0001125532, New Rochelle NY). Filed personal bankruptcy WD Pennsylvania 1994 (94-20640). Finesod v United States in SDNY twice (1987 and 1992). No corporate registrations found for Jackie Fine Arts in any state registry searched (FL, NY, NM, PA, CA, USVI, UK). No 990 nonprofit filings found.
Finesod convicted of fraud RICO civil conspiracy with 4.3M judgment in Faircloth case
Herman Finesod found liable after jury trial for fraud civil conspiracy and RICO in Faircloth v Finesod. He did not appear at trial. Judgment exceeded 4.3 million: 469839 compensatory damages plus 1409517 treble RICO damages plus 2.5M punitive against Finesod plus 5M punitive against Jackie Fine Arts plus 500K punitive against Rose plus 615170 attorneys fees. On appeal 4th Circuit reversed state fraud claims but affirmed RICO judgment including permanent injunction. Finesod also previously ran Hambrose Stamp tax shelter similar scheme with rare postage stamps.
identity (1)
Herman Finesod still alive as of 2018 lawsuit, age 84, residing at 200 East 62nd Street New York NY 10021. Sued by building owner 200 East 62nd Street Owner LLC in November 2018. Despite 9M+ in civil judgments from art and stamp fraud, maintained Upper East Side residence.