The Real Deal Miami

Failed execs transfer homes to wives

February 09, 2009 12:50PM

Three failed executives have
transferred the deeds of homes to their wives, possibly to protect their
assets from creditors. Former Merrill Lynch CEO Stanley O’Neal put his
$4.5 million Westchester mansion in his wife’s name in December 2007,
after he was ousted from the company, as well as their $20 million Park
Avenue duplex. Robert Nardelli, former Home Depot CEO, transferred his
$3.8 million Los Angeles mansion to his wife’s name in 2007, right
after resigning from Home Depot under pressure from shareholders.
Richard Fuld, the fallen CEO of Lehman Brothers, transferred his
$14 million Florida mansion to his wife in November