Divorce at 740 Park Avenue – The Bernard Madoff connection


This is where Swedish Countess Marie Douglas David and George David, head of United Technologies live at the moment. Technically speaking. I say technically because the Davids are embroiled, as we discussed a few days back, (http://www.divorcesaloon.com/marie-douglas-david-portrait-of-a-high-maintenance-wife) in a divorce matter in Hartford Connecticut Superior Court. So it is the marital residence, but it is not clear if either or both are living there at the moment.
Apparently the Davids have split up before and there is some speculation that they may reconcile once again, although, all bets are off since she got herself a “pit bull” of a lawyer this time and is gunning for the pent house at 740 Park.
One interesting tidbit is that the Davids are tangentially connected to the Madoff mess through one Ezra Merkin.  Mr. Merkin as you have probably heard is a Wall Street giant in his own right, and a former partner at one of NYC’s top law firms, Milbank Tweed which he left to start his own investment firm, Gabriel Capital Group. Merkin has lost upwards of $100 million of investors money through Madof’s ponzi scheme.
In any event, Mr. Merkin, a member of the renowned Fifth Avenue Synagogue, also resides in an “art filled apartment” at 740 Park Avenue, and, as such, is a neighbor of the Douglases.
It leads me to wonder whether the douglases, per chance, were invested, and to what extent, in the Madoff securities, and if so, how big were their losses.
I have heard that the $43,000,000.00 prenup agreement is being challenged. I am not sure by whom. If it is by the wife, she obviously feels that with a reported net worth in excess of $400,000,000, that her husband is basically leaving her destitute.
But if the husband is challenging it, it means he does not have the money she thinks he has. And one reason that that may be so, is because he lost a lot of money in bad investments. Nothing like a Madoffesque ponzi scheme to wipe out a $400,000,000 net worth, and leave a man unable to keep his soon to be ex-wife living at the marital standard to which she’s become accustomed.