What The Heck Is A `Prime Bank' Note?Phillip L. Zweig
When Lawrence Gerschel received his M.D. in 1978, his grandfather, legendary financier Andre Meyer, couldn't have been prouder. The Lazard Frres & Co. chief and adviser to the rich and famous, including the late Jacqueline Kennedy Onassis, admired great physicians and donated huge sums to medical research. In 1979, Meyer died at the age of 81, leaving a fortune conservatively estimated at $90 million to his wife, Bella, Lawrence, and three other grandchildren. About three years later, Gerschel, then reputedly worth at least $30 million, chucked his medical career for the business world. If Meyer knew what regulatory and law enforcement authorities allege about his grandson, he might turn over in his grave.
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