Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

High-End Prostitute Bust has Some Folks on Wall Street Sweating

The indictments of 17 people on charges of running a high-end prostitution ring no doubt has some on Wall Street worried.

The prostitutes allegedly charged as much as $10,000 in a single night. Many of their customers were Wall Street clients, according to authorities.

Here's the Reuters write-up:

The prostitution service, named High Class NY, was run 24 hours a day out of an office in Brooklyn and charged from $400 to $3,600 an hour for its services, according to the 144-count indictment. It also provided customers with cocaine and other narcotics, the indictment said.

[Brooklyn District Attorney Charles] Hynes said clients often spent in excess of $10,000 in a single night.

They were "all high-end customers coming from the financial markets. People with nothing but money," he said.

Police said the business was extremely sophisticated, running several escort websites and using dummy corporations with misleading names and codes during business-related phone calls.

High Class NY even had a law firm draw up employment contracts for its prostitutes, who described themselves as models and fraudulently agreed to refrain from sexual contact with clients, police said.

"They were on the high end of sophistication," said Vice Detective Joe Panico.

No customers have been named. But if the case goes to trial, it's very possible some names will come out.

Take a look around you. Do any of your colleagues seem nervous today?


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