Disgraced Hedge-Fund Manager Forced to Sell Teddy Bear Collection


Next week, a lot of 1,300 vintage Steiff teddy bears and other soft toys worth approximately $1.9 million will be auctioned off by Christie’s in London. The collection, which has been fastidiously cared for, includes such rarities as the Hot-Water Bottle Bear, of which there are only ten in the world, a perfectly preserved Mickey and Minnie Mouse, and a never manufactured Bonzo the Dog toy. Who would part with such a carefully cultivated collection, one that is so clearly beloved? It can only be one man: Paul Greenwood, the Connecticut hedge-fund manager who was convicted of a $553 million fraud last year.

Greenwood is the seller,” Jasper Pearson, partner in the U.K.-based antique teddy-bear dealers Sue Pearson, said in an interview. “Greenwood’s collection is of extraordinary quality. He only bought museum-grade pieces in mint condition.”

He probably should have listed them under the name “Victor Nightingale.”

WG’s Greenwood, Guilty of Fraud, Sells $1.9 Million Teddy Bears [Bloomberg]