Tonga files suit to recover $26 million it entrusted to `court jester'.

San Jose Mercury News (San Jose, Calif.) (viaKnight-Ridder/Tribune News Service) | June 4, 2002 | Copyright

Byline: Truong Phuoc Khanh

SAN JOSE, Calif. _ The Kingdom of Tonga is learning the hard way what happens when you let the court jester invest the nation's savings.

The stranger-than-fiction tale, told in a lawsuit filed by the Kingdom of Tonga, contends that a former San Francisco bank employee befriended the king's ministers, who authorized him to invest the federal reserve.

But Tongan authorities say J.D. Bogdonoff, who later was named royal court jester by the king, conspired with others to defraud the impoverished island nation out of $26 ...

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