Investors Lose Millions On Paris Hilton Film Flop

What Were They Thinking

Was Madoff Their Broker (Kidding)

January 7. 2009

Paris Hilton

Considering Paris Hilton has never had a hit film, talent or common sense, I do not comprehend why anyone would take their clients’ money and invest it in a movie starring the incorrigible miscreant. However, apparently someone did and paid a terrible financial price for it - $2,000,000 in losses.

I have a bridge I want to sell you. Seriously, it's their broker's fault and now they've sued him.

The funniest part of the article posted below comes from the lawyer defending investors that lost money in Paris' film "Bottoms Up." He stated, “The movie is a dog.” That's not a nice way to talk about Paris (smirk). Oh wait, I think he means the movie is bad.

Paris Hilton

At least Ameriprise client Jack Anderson got to visit a Hollywood movie set for his investment. Anderson, 64, and his wife, Linda, 63, say they contributed more than $2 million, or almost half the budget, for a Paris Hilton film called Bottoms Up, whose plot centers on a celebrity caught masturbating on videotape.

Former Ameriprise adviser Daniel Roberts allegedly convinced the couple to cash in bonds, mutual funds and other conservative retirement savings. He assured them they’d get a 15 percent return plus a share of the movie’s profits, according to their January 2007 arbitration claim. Instead, the film went straight to DVD.

“Jack Anderson is the definition of a victim,” says John Gatti, an attorney in the Santa Monica, California, office of Greenberg Traurig LLP who represented the Andersons in a separate 2006 lawsuit against the producers filed in state court in Los Angeles. “This could have been your dad or my dad.”

Ameriprise countered in related court filings that Anderson knew what he was doing, citing an August 2005 e-mail.

“The movie is a dog,” Anderson wrote. “The comedy is not funny, editing and story line are choppy and Paris shows no skin. It will have a very, very small audience.” ...

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