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what happens when unlimited wealth happens to people with limited talents

Getting to the Bottom of the Guitar Theme at Valery Kogan’s Greenwich Palace

The second-most eyebrow-raising aspect of murky Russian financier Valery Kogan's internationally infamous 26-toileted Greenwich mansion is its insistent rock-and-roll theme: statues of "guitar gods" around the pool and a marble patio shaped like a Gibson Les Paul. Now we know exactly where this madness is coming from. Valery's son, Alex Kogan, is a singer-songwriter who's been trying and failing to launch an awesomely bad rock career with Dad's millions. A tipster tells us that, after a failed deal with Sony, Kogan Jr. created his own label, Moon On Fire Organization (or MOFO), "of which he was the president and only artist."

The insider continues: "They had a lavish budget, bought a band and went around touring to improve Alex's skills. They hired video editors, shot several videos, hired a marketing agency, all with great promises of payment and success. Then one day, suddenly, the whole operation folded. Everyone was promised payment, and yet nothing has been received .... The label went on hiatus in early April." Which dovetails nicely with the theory that, gargantuan real-estate appetites aside, the secretive elder Kogan may actually be broke. In the meantime, let's all enjoy Alex Kogan's stylings on his website (which features a countdown to his next album, dropping on July 6) and the inevitable MySpace page. We're guessing "Baby You're an Astronaut" sounds best while blasting across the "pool terrace with a pop-up in-floor misting system to cool the stone surface for bare feet on hot days."

Alex Kogan [OmieNice/MySpace]
Earlier: Xanadu, CT [NYM]

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Photo: myspace.com