RUMOR MILL
Thursday, April 6, 2000
GIACCHETTO "SCHMOOZES" HIS WAY INTO FBI CUSTODY
Hollywood Money Manager Allegedly Looted More Than $6 Million From Celebs
Dana Giacchetto surrendered to FBI agents Tuesday (4/5) in New York City to face federal fraud charges while his lawyers argued that the Hollywood money manager should be allowed to continue to use his "schmooze factor" as a "finder" of deals for entertainment clients.
Giacchetto, 37, charged with three criminal counts for allegedly looting more than $6 million of his clients’ funds, gave himself up shortly before noon.
At an afternoon hearing, Giacchetto was released on a $1 million personal bond secured by his parents’ signatures and their $500,000 home in Medford, MA.
A onetime money manager to such stars as Ben Affleck, Matt Damon, Ben Stiller, Leonardo DiCaprio and Courteney Cox Arquette as well as entertainment power broker Michael Ovitz, Giacchetto was named in a criminal complaint Monday that alleged he funneled some $20 million of client funds through his own account as part of an elaborate fund-kiting scheme.
Giacchetto, 37, charged with three criminal counts for allegedly looting more than $6 million of his clients’ funds, gave himself up shortly before noon.
At an afternoon hearing, Giacchetto was released on a $1 million personal bond secured by his parents’ signatures and their $500,000 home in Medford, MA.
A onetime money manager to such stars as Ben Affleck, Matt Damon, Ben Stiller, Leonardo DiCaprio and Courteney Cox Arquette as well as entertainment power broker Michael Ovitz, Giacchetto was named in a criminal complaint Monday that alleged he funneled some $20 million of client funds through his own account as part of an elaborate fund-kiting scheme.
 STAGECOACH GOES BIG WITH ZACH, JELLY ROLL, LUKERecord-breaking heat wave in the forecast. (9/6a)
LINKIN PARK ROARS BACK WITH NEW ALBUM, SINGER, TOURThis oughta be interesting. (9/6a)
HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALLWe're putting our asses in seats. (9/4a)
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