Wellington Man Predicts Windfall That Will Save His Investors -- and Himself -- From Ruin
|Zada on the cover of Riches to Rags, a documentary by Ron Davis, who claims to be a victim.|
From an article in this weekend's Detroit Free Press that isn't available on the paper's website:
Depending who you ask in the Grosse Pointe (Michigan) and Palm Beach, Fla., social circles he traversed, Zada got rich by:
Building his mother's divorce settlement into a fortune.
Buying oil cheap and, on the advice of oil cartel insiders, selling when the price shot up.
Inheriting millions from his Saudi lover.
Zada will not say which -- if any -- of these stories is true. He offers only assurances that, any day now, a large sum will be transferred to his accounts, allowing him to repay more than $75 million he owes creditors like Sergei Fedorov, the former Red Wings star, who estimates he invested $43 million with Zada over the past decade but has received virtually no return.Don't hold your breath, Zada investors. The paper also published details about how Zada spent his money:
Zada denied himself few extravagances, if his October 2007 American Express statement is any indication:Now wait just a second. Are we to believe that there's a message worth $4,000? Mind you, another Palm Beach massage aficionado, Jeffrey Epstein, paid just $200 for his massages, which were performed by underaged girls. What exactly does one get for four grand?
London: A $67,261 stay at the posh Dorchester Hotel.
Las Vegas: $3,022 at SW Steakhouse and $2,189 for a night at the MGM Grand Hotel.
Florida: $4,000 at Palm Beach Massage.