> Meanwhile, Mandel paid himself ... $1.7m, and ... $14m. After overhead fees ($5.5m for the tickets, and $500k in expenses), he was left with a princely sum.

> Meanwhile, Mandel paid himself ... $1.7m, and ... $14m. After overhead fees ($5.5m for the tickets, and $500k in expenses), he was left with a princely sum. > Records show that he funneled this cash into the Pacific Basin Fund, a Hong Kong-based account managed by his brother-in-law. “What we calculated to be the reality has changed,” he wrote in a 1994 letter to investors. “It may not seem such a hot investment now.” After that, his investor updates went cold. Proof that it was a scam all along.