BEFORE THE FALL: REWALD AT POLO MATCH

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP90-00494R001100690026-3
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: December 22, 2016
• Document Release Date: August 10, 2010
• Sequence Number: 26
• Publication Date: August 20, 1983
• Content Type: OPEN SOURCE

Approved For Release 2010/08/10: CIA-RDP90-00494RO01100690026-3
AftW,?. A I tis,~
Rewald waits in police
station to be booked
after being indicted for
, theft.
lie :d he never withdrew any money
from tl. account.
He to withdraw. On August 1. But
Julie, the woman who answered the tele-
phone, said that business was frozen for 30
days.
Why had he tried to get the money out?
There had been a program on television
r,rsu,i scrre questions 31h.o1,t t! e firm. and
'1 hat incipded S760,000 in oper i g
expenses, j st to keep the fancy Gros-
venor Center office open and its mans'
consultants paid and fed, and another
$914,000 to increasingly restive inves-
tors. The investors expected that
promised 20 percent interest.
But is there any known source of
income to BB which would enable it to
pay 20 percent of S17 million every
year?
No sir." Wong testified yesterday.
Did 't'ong know of any source which
would enable the company to pay any-
thing even CLOSE to that amount?
-No," he said.
But it wasn't just the interest.
There was. in the last two months, a
half-million dollars for the personal ex-
penses of the man who started it all..
Rewald himself. That figure came from
the bankruptcy accountant's recon-
struction of the company books.
Life in the Rewald style did not''
come cheap. There was $9,000 a month
for a tutor to- educate his children.
't'hen there',. were the stable bills for
polo ponies, named "Gucci" and
'Feather" and "Trigger" and "Cara-
mel.
"
And $10.000 a month to Charles
Pietseh Jr. to pay just a part of the
intetgst for the $3.350,000 ranch Ron
was buying from Pictsch; $10.000-plus
fothr th
e mortgage on Roll's Kutrouou
waterfront home; $4.000 for the family
photos; $9.6:50 for the boats; and so on.
Ron's sister Susan Loppnow was in
line for $2,000 a. month for something,
act'es-of state land in_Waim_analo tha
f
R was t,... in
n
rom
N
VAIC
t' Ar~ve? ;fit puree
THU ..