Divorce lawyer Felder sues investment firm

October 20, 2008 4:48:16 PM PDT
High-profile divorce lawyer Raoul Felder, who has represented celebrities including former Mayor Rudy Giuliani, has filed a $5.2 million lawsuit charging that an investment firm lost $200,000 of his money when it ignored his instructions and investment goals. The lawsuit, filed Monday, says Alliance Global Wealth Management officials induced Felder to put his money into risky investments after he asked for relatively conservative securities and he "began to suffer significant losses."

Felder's court papers say the Alliance financial advisers abused his trust and acted out of "greed and self-interest." Felder's papers say he asked out of the fund in April but they made him stay in until June.

Felder said, "This kind of fraud is being duplicated all over America."

Alliance Global didn't immediately return a telephone call seeking comment Monday.

Felder represented Giuliani in his divorce from television personality Donna Hanover.

"She will stay in (mayoral residence) Gracie Mansion until they take her screaming, scratching and kicking out of that place," Felder said in May 2001. "I suppose we're going to have to pry her off the chandelier to get her out of there."

Giuliani and Hanover reached an out-of-court settlement in July 2002, avoiding a public conclusion to their bitter separation after two decades of marriage.

In recent years, Felder also has represented Brazilian model Luciana Morad in her paternity suit against Rolling Stones singer Mick Jagger, David Gest in his divorce from entertainer Liza Minnelli and Richard Taubman in his divorce from model Christie Brinkley.

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