A senior banker who slowly lost his sanity after a helicopter crash blew millions on lavish gifts to people he barely knew, while his bank adviser did nothing to stop him, a lawsuit claims.
The New York Post reports that former Lehman Brothers and UBS financier Jeffrey Horan, 43, bought a New Jersey contractor a $460,000 Lamborghini and a Queens woman a $72,000 Mercedes during a bizarre 2010 spending spree, according to the Manhattan suit, filed this week.
The largesse was part of 'strange, illogical and self-destructive behavior and improper and erratic financial transactions that resulted in the loss of millions of dollars', during 2010, says the suit, filed on behalf of Horan and his lawyer brother, Larry, who later that year was appointed Jeffrey’s legal guardian.
Horan’s Bank of America financial adviser knew her client was mentally unstable but failed to raise any red flags, the suit alleges.
A pal said the downward spiral began with a helicopter crash in 2001 that nearly cost Jeffrey Horan his life.
A crew of UBS execs and top clients were flying back from Philadelphia.
Larry Horan is seeking millions in compensation and punitive damages from the bank and others.
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