Investment bankers take drugs

Ex-banker unpacks | With coke and whores
through the financial world

Now a new "Wolf of Wall Street" unpacks about sex, drugs and excesses in the financial industry.

And the descriptions are hardly inferior to the experiences of the impostor Jordan Belfort, which master director Martin Scorsese staged with film star Leonardo DiCaprio.

The new man in the race to unveil ever new dimensions of decadence and profligacy in the circles of powerful investment bankers is John LeFevre (34). In the book "Straight to Hell" (Atlantic Monthly Press, 288 pages) he unpacks over his years as a coked money speculator in New York, London and Hong Kong.

Not a stranger

He had spread alleged gossip from the corridors of the investment bank Goldman Sachs via an anonymous Twitter account to LeFevre: The 140-character bites under “@GSElevator” became a cult in the money scene on Wall Street.

The motto was: "I take care of a sh ....

But then it turned out that LeFevre didn't even work for Goldman Sachs - his tweets came from an office of the financial giant "Citibank" in Houston, Texas.

Before that, in 2004, LeFevre had been sent to Hong Kong for the bank: The wild times in Asia in particular are at the center of the explosive biography, which again paints a not particularly trustworthy moral picture of the financial industry.

It went straight to the point, writes LeFevre. A hedge fund manager, who should have introduced him to the rich client scene, first made contact with a man named "Joe", as the "Daily News" quoted in advance from the gripping reading. "Here is Joe's cell phone number", says the colleague: "You will need it ..."

Joe was a drug dealer, of course. He delivered straight to the office: coke, pills, marijuana. What ever.

The manager, whom the author calls Dennis Lipton (not his real name, of course), then quoted him at a meeting with a wealthy client. The money managers chose flowery names for their clientele: “Trainwreck at Vegas” (German: frontal accident in Vegas) was the name of this customer.

When LeFevre arrived he saw Lipton with his pants down and with two naked women. The bill that evening was $ 2,700. That these were billed as expenses seemed a matter of course. "Welcome to Hong Kong," the banker thought to himself.

Tips for the frivolous life in Asia's most important financial center were hailed. The banker was advised to get a good-looking Filipino woman from an agency to act as a maid.

"If you go empty-handed on a foray through the bars, the evening is not entirely lost ..." he was whispered. The women would work cheaply and long - and also know that not only cleaning and ironing are part of the "job description". LeFevre, however, only had high demands on his "maid" when it came to ironing his boxer shorts and socks, the book says.

Once, however, the woman almost lost her job when she mistakenly threw a load of coke in the trash can that a colleague had left on a plate at dinner. LeFevre called to smooth things over. "That stupid bitch," the man raged: "It was a lot, a lot like Jack Nicholson in 'The Departed', damn it!"

"Normal" women undesirable

The few managers of the financial institutions were advised at dinner to leave the restaurants quickly after meals. You shouldn't notice the parade of the "Love Monkeys" (prostitutes) and drug excesses of their male colleagues. Some of the women were even explicitly asked to leave the round by SMS.

The author also reports on a particularly unsavory custom of the "boys" when they really let it rip. They were happy to dig out their penises at the first opportunity. A manager from New York was amazed: "Man, it really didn't take long here before I saw your things".

The word about Sodom and Gomorrah in the Asian metropolis quickly got around in the global banking scene.

“It's not that the colleagues in New York or London are more well-behaved,” says the money juggler: “They don't get away with it as much there than in Asia”. Managers from prudish locations quickly found reasons to strengthen business relationships with Asian customers, which - of course - required frequent business trips.

Good to know: Global cash flows are apparently not always guided by sober analyzes of investment opportunities.

The money manager describes in great detail a "business meeting" to which colleagues would have invited him. Once there, a beautiful hostess escorted him to a chamber with Roman architecture, the floor made of marble, relaxing the gurgling of a small waterfall. A woman in a bikini appeared who allegedly wanted to concentrate on a specific part of the body during the 60-minute massage. When his colleagues asked him in the "hot tub" where he had been for so long, he reported about the strange massage. "Why are you even getting a whore massage you?" Laughed one of the finance managers.

From turbo banker to family father

The former sex and coke banker now lives as an honest family man in Houston.

“For my wife and children,” he even wrote as a dedication in the book that will go on sale July 14th: “I wrote this for you, but on the condition that you will never read it ... "

Despite all the material for a customer, the search for a publisher turned out to be difficult.

After all, LeFevre had lied to thousands of Twitter followers when he reported alleged gossip in the elevator of the Goldman Sachs headquarters in Lower Manhattan - while he was actually sitting thousands of kilometers away in Houston. The "New York Times" exposed the hoax back then. A first publisher of the planned book dropped out. It wasn't until the second attempt that the banker made the book deal.

But he hardly held back now, the excesses are hair-raising:

► LeFevre describes how he and his colleagues sniffed coke in large quantities for a few hours, usually around noon.

► A deal with a Chinese star investor, christened “Warren Buffet of Shanghai”, imploded when a colleague who had been praised by LeFevre as the “mastermind” of the possible business deal made a fool of himself while dancing in a chicken costume.

► The author by no means describes his own behavior in the highest terms: A rendezvous with the daughter of a prominent Chinese family went wrong when he was constantly commuting between the table and the toilet sniffing coke. A whole package was on it, but the evening derailed.

►Only days after buying a Maserati sports car, he drove the noble vehicle into a total write-off in a road race against a Mercedes C-Class.

► The excess banker even managed to fly upright out of the posh “Four Seasons” hotel, even though the establishment was known for its patience with unruly millionaires. At one point, LeFevre had to be escorted back to his room by security guards after appearing in the shirtless lobby.

Not all book reviews turned out friendly: The memoirs are full of "well-known clichés," wrote "Bloomberg" columnist Matt Levine in a first defense of the industry: "We've heard all of that ..."

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