As any celebrity will tell you, success often causes estranged relatives to come out of the woodwork and demand money. Apparently the same is true in private equity…
WSJ: Trouble with the in-laws doesn’t often involve law enforcement, but that’s what happened to London-based private-equity star David Blitzer, whose 71-year-old father-in-law is charged in the U.S. with trying to shake him down for $11 million.
Stuart Ross and his lawyer, Stuart Jackson, were arrested in a sting operation Friday after Mr. Blitzer, 38, made a $50,000 payment as part of a deal to get Mr. Ross to stop harassing him.
Mr. Blitzer, a top European executive for Blackstone Group LP, had been battling Mr. Ross, the estranged father of his wife, Allison Blitzer, for months. About three weeks ago, Mr. Ross allegedly threatened Mr. Blitzer and demanded a multimillion-dollar payment to stop harassing him. Mr. Blitzer then began working with the Manhattan district attorney’s office, which announced the charges Friday…
The problems allegedly began last December, when Mr. Ross, who hadn’t been in touch with his daughter or Mr. Blitzer since about 2002, contacted Mr. Blitzer and asked him for money to seed a business venture. After repeated requests, Mr. Blitzer gave him $65,000 but said he wasn’t going to give him any more money.
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