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Istanbul, Turkey. Died. 27 February 1995 (1995-02-27) (aged 67) London, UK. Other names. Bernie. Occupation (s) Financier, businessman. Bernard " Bernie " Cornfeld (17 August 1927 – 27 February 1995) was a prominent businessman and international financier who sold investments in US mutual funds, and who was tried and acquitted for ...
Bernard Cornfeld, a Brooklyn-reared salesman who became one of the most flamboyant and controversial figures ever to stride through the American mutual fund industry, died in London on Monday. He ...
Mar 1, 1995 · Bernie Cornfeld, the sullied jet-set playboy and international financier whose Investors Overseas Services mutual fund company collapsed in the 1970s, defrauding some 250,000 investors, has died ...
- Early Life
- Investors Overseas Services
- Personal Life
- Cornfeld's Decline
- Final Years
- Sources
- External Links
Bernard Cornfeld was born in Turkey. His father was a Romanian-Jewish actor; his mother was from a Russian-Jewish family. They moved to America when Bernard was four years old – his father dying two years later. The young Brooklyn-raised Cornfeld worked after school each day in fruit stores and as a delivery boy. Although he suffered from a stammer...
In the 1960s, Cornfeld formed his own mutual fund selling company, Investors Overseas Services (IOS), with principal offices in Geneva, Switzerland, although its legal place of incorporation was Panama. He also set up mutual funds in various jurisdictions, as noted below. Although the executive headquarters were in Geneva, the main operational offi...
Cornfeld owned a 12th century chateau in France, not far from Geneva, villa in France, a house in [West Halkin Street]Belgravia, London, and a mansion Grayhall, Carolyn Way, Beverly Hills, as well as a permanent suite in a New York City hotel and his own fleet of private planes. He is quoted as saying, "I had mansions all over the world, I threw ex...
A group of 300 IOS employees complained to the Swiss authorities that Cornfeld and his co-founders pocketed part of the proceeds of a share issue raised among employees in 1969. Consequently he was charged with fraud in 1973 by the Swiss authorities. When Cornfeld visited Geneva, Swiss authorities arrested him. He served 11 months in a Swiss jail b...
He returned to Beverly Hills, living less ostentatiously than in his previous years. He developed an obsession for health foods and vitamins, renounced red meat and seldom drank alcohol. In his last years he was a chairman of a land development firm in Arizona and also owned a real estate company in Los Angeles. His marriage ended in divorce, and h...
The Bernie Cornfeld Story by Bert Cantor, (Lyle Stuart, Inc., 1970). ISBN 0-8184-0013-7With title quoting Cornfeld's celebrated pitch – Do You Sincerely Want To Be Rich? by Charles Raw with Godfrey Hodgson and Bruce Page (Originally published André Deutsch, 1971, ISBN 0-233-96328-6;...By the 1990s, Cornfeld had developed an obsession for health foods and vitamins, renounced red meat and seldom drank alcohol. In his last years he was a chairman of a land development firm in Arizona and also owned a real estate company in Los Angeles. Death. Bernard Cornfeld suffered a stroke and died of MRSA on 27 February 1995 in London ...
May 19, 1970 · GENEVA, May 18—Bernard Cornfeld, who was ousted last last week as head of the problem‐ridden mutual‐fund empire he had erected, re mains locked in the 20‐ room villa built here by Na ...
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Jan 1, 1971 · Most notably, in 1973 Robert L. Vesco (the purported savior of IOS) was accused of stealing $220 mm from IOS and became a fugitive. Bernie Cornfeld went to jail in 1973, but spent only 11 months there, and was later acquitted of charges. He died in 1995 at the age of 67, rich but defeated. Ed Cowett died of a heart attack in 1974 at the age of 44.
