Here's Everything You Need To Know About The 'Millionaire Madam' Scandal That's Rocking Wall Street

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Photo: By iich on Flickr

Everyone has been abuzz with the news of the ‘Millionaire Madam’ Anna Gristina.Gristina was arrested last month on charges of promoting prostitution, and was allegedly trying to convince a Morgan Stanley employee to help back a new venture at the time of her arrest.

Since the case was first publicized this Monday, news of Gristina, the Morgan Stanley broker and her allegedly “black book” full of banker and hedge fund contacts have dominated the mediasphere.

Here’s a round up of everything we know.

The alleged madam is Anna Gristina; she was arrested and indicted on Feb. 22nd.

Gristina was charged with one count of promoting prostitution. She's currently in Rikers on 2 million bail.

Gristina is originally from Scotland and has a British and Canadian passport--so authorities had considered her a flight risk when they determined her bail. She currently lives in Monroe, NY.

Source: DNAinfo

Prosecutors say they have all the dirt on Gristina on tape.

Prosecutors claim Gristina made millions over 15 years as a madam, they have been investigating her for the last five years.

Officials say they have nearly 100 hours of audio of Gristina--including some tapes where she talks about giving minors to her clients.

On tape, Gristina also allegedly bragged about having such a good network of contacts that they would tip her off if investigators were watching her business. She also said she was 'building an empire.'

Source: New York Daily News

At the time of her arrest, Gristina was allegedly with a Morgan Stanley employee.

The Morgan Stanley worker has since been identified as David Walker, a broker at the firm.

Court documents say that Gristina was allegedly trying to get Walker to financially back an online venture to match up wealthy clients and prostitutes.

Walker has not been charged with wrongdoing, but his name--and the relationship to Morgan Stanley--have created a stir in the financial community.

Source: DNAinfo, DealBook

Walker has said that Gristina knew lots of people at Morgan Stanley.

DNAinfo was able to speak with Walker, who said he was not with Gristina when she was arrested. He added that she knew lots of people at Morgan Stanley.

According to CNBC, Morgan Stanley has confirmed they are investigating the relationship between Walker and Gristina.

Source: DNAinfo, CNBC

Investigators are still looking for Gristina's alleged co-conspirator.

Her name is apparently Jaynie Mae Baker, the head of recruiting for match-making service VIP Life. Prosecutors suspect that Baker and Gristina worked together and are looking to bring her in for questioning.

Source: DNAinfo

Gristina's defence say she's a dedicated businesswoman caught up in a sensationalized and misunderstood case.

As in any court case, there's been a lot of 'she said, he said.' Prosecutors have made out Gristina as a cunning madam, but her lawyers are taking the other side.

From AP:

Anna Gristina's lawyers have portrayed her as a dedicated suburban mum, animal rescuer and former real estate broker who was working on building an online dating service. They said she's a target of an unfairly sensationalized case.

Gristina's private life--she's a mother of four--does paint the picture of a domestic. One of her hobbies seems to be pig rescue--before she shut down her Facebook, it was filled with photos of pigs.

Source: AP, DNAinfo

Now check out other scandals that involved Wall Street

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