RUMOR MILL
Tuesday, May 30, 2000
GIACCHETTO PAYS $4 MILLION FOR PHISH FOOD
Jam Band Blows Windfall On Hemp Futures, Patchouli, Tie-Dying Supplies
Fallen financial whiz Dana Giacchetto has forked over a whopping $3.9 million to one former client, the rock band Phish.
Last month Giacchetto quietly signed a "confession of judgment" after the band sued him for roughly $5 million, which he'd invested for them and disappeared, reports Foxnews.com's Roger Friedman.
Even though some of Giacchetto's assets have been frozen by the SEC, Phish managed to recoup some of its losses by seizing pieces of Giacchetto's art collection from his Soho loft.
"I'm aware of the judgment, but I can't say anything more at this time," said Giacchetto's ironically named lawyer Ronald Fischetti.
No comment either that the band threaten to make Giacchetto and Fischetti sit through one of their four-hour jams if the money was not returned.
