Published On: Sun, Mar 1st, 2015

Cleared of Jeffries Drug Accusations, Brian Friedman Buys New Manhattan Home

Despite forfeiting bonus, Friedman gets new 5th avenue pad

Brian Friedman

After proving he’s not a junkie amid a nightmare scandal for Jeffries, Brian Friedman has perhaps earned the right to his lavish $16.5 million 5th Avenue home. The New York Post reports the apartment is at 910 5th Avenue, is on the 12th floor and has four bedrooms and four bathrooms, with amazing views of Central Park and Fifth Avenue.

Jeffries Chairman Brian Friedman, along with the CEO and Richard Handler, submitted to voluntary drug tests after Christina Kelly, estranged wife of Jeffries’ banker Sage Kelly, wanted to deprive Sage of his custody rights by alleging that Jeffries had a culture of lavish drug orgies. While the drug tests came back clean and Christina later retracted her accusations, some of the mud stuck, as a number of clients left, and the bank reported a $92.4 million loss. While Friedman and Handler turned down their bonuses because of the shortfall, Friedman is still able to enjoy his new Manhattan home.

Sage has since quit Jeffries to focus on “family matters” and, with joint custody, is often seen picking up his daughter from school. Christina has taken back her accusations in return for a settlement from her ex husband.

When Handler was urged to take a drug test, he told Bloomberg  “We are embarrassed we even have to discuss these matters, but this should put the rest the allegations against our firm.”Friedman added, “Sometimes truth comes in a jar.” (yes that was a drug test, and not a preparation for in vitro fertilization).

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