On Monday, almost three years after David Birnbaum's elaborate masquerade using the Guggenheim name to woo investors came to light, the bona fide Guggenheims of Guggenheim Partners LLC won a handy victory over their allegedly bogus relative.
July 17, 2013 at 12:00 AM
1 minute read
For the heirs of some uber-weathy clans, trading on the family name comes easy. It certainly seemed a natural fit for David B. Guggenheim, who began to appear on the dealmaking scene back in the 1970s, using his name to woo investors.
One problem: David Guggenheim was actually David Birnbaum, of Ditmas Park, Brooklyn. And not surprisingly, the real Guggenheim family, which launched a fledgling investment firm in 2000, wasn't so keen on Birnbaum's activities.
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