Business & Finance: Yacht Club's Revenge

In a socialite sense, the foulest deed Dick Whitney ever did was to steal $105,184 in securities from the safe-deposit box of the swanky New York Yacht Club, of which he was treasurer. Last week his old club, anxious to recoup, filed suit for all he had embezzled, plus interest, against a less exclusive, more expensive club, the New York Stock Exchange. Ground for the suit, had the Exchange exposed its onetime president sooner, it might have prevented the yacht club theft.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!