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Australian Millionaire Allegedly Threatens to Slice Off Wealthy Neighbor’s Nipple

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Australian Millionaire fued

In an amusing case of agro that can only be described as “rich people problems,” Australian millionaire Peter Higgins allegedly threatened to slice off the nipple of a wealthy neighbor. The nipple-slicing threat came amidst an intense ongoing feud between them in which one witness likened them to “a pair of school kids.”

Australian Millionaire Pair Court Battle

Everyone loves the Aussie ethos of telling it like it is. Australia is where “a bloke is a bloke and the sheep are scared.” Which roughly translates as there is no class system in Australia and the sheep always need to watch their backs.

But it seems that the only person in this story who needs to watch his back, or more precisely his front, is Peter Higgin’s nemesis, the wealthy investor John Marshall.

Mortgage Choice co-founder and multi-millionaire potential nipple slicer, Peter Higgins, allegedly threatened Marshall with ear and nipple torture after the uninvited Marshall drove onto his property to watch his son take part in a polo tourney.

There was a heated argument over whether or not Marshall was allowed to park there due to the tournament taking place on the same grounds. Higgins launched an ultra-aggressive verbal attack on Marshall who in turn felt threatened and allegedly head-butted him.

Mr. Marshall told the court this week that it was an act of self-defense that escalated from the incident at the Sydney Polo Club on March 29. Mr. Higgins suffered a nosebleed in the attack, said The Sydney Morning Herald. Marshall was quoted as saying:

“He yelled at me… I’m going to have your ear cut off – or your nipple. Which one would you prefer?”

Marshall Charged with Actual Bodily Harm

The 68-year-old Marshall was charged by the Parramatta Local Court on Thursday for actual bodily harm, although the judge had a few choice words for the millionaire quarreling twosome.

The judge who chaired the case, magistrate Jennifer Giles, found Marshall not-guilty of the main assault but said she was not satisfied that the prosecution had negated self-defense.

Ms. Giles summed up the case between the Australian millionaire Higgins and the wealthy investor Marshall by concluding that:

“This hearing is merely an examination of a tiny five-minute moment in an epic and chronic feud for which the taxpayers of New South Wales (NWS) seems to provide an ongoing forum.”

Featured image from habaricloudtoday.

Alan is a professional writer with a love for the economy and the financial markets. Originally from the UK but now living and working out in Asia, Alan loves writing about all aspects of financial freedom.

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How They Lost Their Fortune

Rogue Traders – Ex Deutsche Bank Traders Face up to 30 Years in Jail

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Deutsche Bank traders

You win some you lose some, right? The world of trading is a high risk, high reward one. But when traders get rogue and start dabbling in illegal matters, the wins quickly turn into losses. American Matthew Connolly and Britain’s Gavin Black, both former Deutsche Bank traders, were found guilty yesterday for their roles in manipulating the Libor rate. They now face up to 30 years in the slammer and $1 million fine.

What Happened?

When anything in the trading world is manipulated for personal gain, (think insider trading, rate manipulation) you’re skating on fairly thin ice. Connolly headed up Deutsche Bank’s New York pool trading desk, while Black was a derivatives trader in London. The pair conspired to manipulate Libor on a wire transaction and were found guilty by a jury in New York.

While the news is a further stain on Deutsche Bank’s reputation, a financial institution with a less-than-clean slate, Connolly and Black stand to lose the most. Although it’s unlikely they’ll carry out the entirety of their sentences, staring at a 30-year stretch is not an enviable position to be in.

It is, however, a victory for the US Department of Justice, that has charged many banks for manipulating Libor but prosecuted relatively few individuals with success.

Connolly was convicted of conspiracy on two counts of wire fraud but cleared of a third charge against him. Black was found guilty of both charges against him–of conspiracy and wire fraud.

What Is Libor Anyway?

LIBOR stands for the London Interbank Offered Rate. This is the interest rate that banks charge for borrowing a large amount of money and essentially, a global interest rate benchmark.

16 banks are polled every day on what their rate will be. The top four and bottom four are removed and the Libor rate for the day is calculated from the average of the middle. Check out this handy explainer video if you want to know more:

Deutsche Bank Traders Setting an Example

According to the chief of the DoJ’s criminal division, Brian Benczkowski, quoted in Bloomberg:

“Matthew Connolly and Gavin Black undermined the integrity of our financial markets by manipulating Libor… The justice department and its law enforcement partners will aggressively investigate and prosecute individuals and financial institutions who engage in this sort of misconduct.”

The two former traders were indicted in 2016 after the Deutsche Bank’s $775m Libor settlement the year before.

Both Connolly and Black’s attorneys insisted that the men were innocent. They said that the fight was far from over and that they would be appealing the verdict, making post-trial motions and continue to seek justice.

Featured image from Bloomberg.

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