Eight years ago, celebrity financial adviser Dana Giacchetto, who once helped Leonardo DiCaprio, Cameron Diaz and Michael Ovitz manage their money, was indicted for securities fraud. He pleaded guilty, served time behind bars and ultimately was forced to file for bankruptcy. Now the saga takes a bizarre and tragic turn as Giacchetto’s personal assets will be auctioned off on December 11.
Among the items up for bidding: a video of Titanic autographed by Leonardo DiCaprio (we bet Leo’s thrilled about that), a discman, fingerpaintings created by Giacchetto and DiCaprio (again, Leo likely delighted), and the life rights to the former celebrity financial adviser, including the TV and movie rights to his book, starting at $100,000. A movie about this mess would be a fabulously ironic Hollywood ending. Even better: one starring Leonardo DiCaprio.
Variety: Upon his release from prison, Giacchetto gave exclusive access to author Emily White for a biography she was writing about him, “You Will Make Money in Your Sleep: The Story of Dana Giacchetto, Financial Adviser to the Stars,” with an agreement that the two would share the revenues.
Under a 2007 settlement agreement, however, the bankruptcy trustee obtained the right to share in revenues from the sale of the book, which has sold poorly, resulting in proceeds to the trustee of around $20,000…
In addition to royalties from White’s book, also up for auction, which takes place Dec. 11 in bankruptcy court in Manhattan, are movie and television rights derived from the book and Giacchetto’s life rights, including the rights to create a movie or television program based on Giacchetto’s life. The minimum bid is $100,000.
Variety’s HAL blog has a more comprehensive listing of the assets up for auction, including a photo of the ad for the sale, which ran in today’s Variety, and a link to pictures of the goods.
Photo from Variety
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