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Stockbroker to the Stars Dana Giacchetto Found Dead in New York

Dana Giacchetto, the high-flying money manager known as the stockbroker to the stars for his business associations with Leonardo DiCaprio and other celebrities before he plead guilty to securities fraud, was found dead in his Manhattan apartment Sunday. He was 53.

Giacchetto’s roommate found him “face up in bed and foaming at the mouth” in their Upper West Side apartment after a weekend of heavy partying, according to the New York Daily News. Giacchetto was seen Friday at a party for the film “Legends of Freestyle” where he was said to be clearly intoxicated, scuffling with security guards and making a scene outside the club.

Among his clients in the 1990s were Cameron Diaz, Michael Ovitz, Tobey Maguire, Ben Affleck, Michael Stipe and Matt Damon. His successful business deals before his arrest included brokering the sale of 49 percent of Sub Pop records to Warner Music Group for $20 million.

His colorful life was full of dramatic highs and lows: While awaiting trial in 2000, for example, he was apprehended in Las Vegas carrying large amounts of cash and airline tickets. He claimed he was flying to Rome to propose to his girlfriend, though it seemed more like he had intended to escape his impending jail sentence. In 2001, he was sentenced to the maximum term of nearly four years in prison for stealing $5 million to $10 million from his clients. Clients including Diaz, Alanis Morisette, Tim Roth and Richard LaGravenese ended up paying back a portion of the funds that were diverted to their accounts.

 

 

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