Katie: Crime Writer Patricia Cornwell
Katie Couric heralds her as one of the most successful female authors of our time. Patricia Cornwell has sold over 100 million books in her career, but now she finds herself in the middle of a $50 million lawsuit with a former money manager. Her lifestyle – which isn’t frugal by any means – had a suspicious air about it but Cornwell won the lawsuit. She tells Katie on today’s show how the lawsuit changed her view of money.
Katie: Financial Counsel and Bad Management
Cornwell tells Katie how she first noticed something was up with Evan Snapper, who managed her finances. She left his firm, Anchin, Block & Anchin, to find another place for her money. She felt that the money just wasn’t adding up from the sale of her crime novels.
She began to think that the money wasn’t accumulating because the value of the dollar had changed. The weird part was when the bank would not release her personal bank records without a subpoena. She decided to take the boxes of documents from the firm and look into her own accounts. She found a “huge amount of recklessness and missmanagement and just not caring.”
Katie: Patricia Cornwell’s Next Novel
During the investigation, Cornwell’s spending came into question. She had spent money on Elton John tickets, campaign donations to Hillary Clinton and extravagant birthday gifts. Despite it all, the court found a case straight out of Cornwell’s novels. Hundreds of millions of dollars were in question and lying, cheating and scamming were all to blame.
She tells Katie that her next crime novel could involve a bit of the real drama. Her main character, medical examiner Kay Scarpetta, could uncover bad finances as the motive for a crime.
“She’ll win, too!” she says.
Katie: Financial Advice From Patricia Cornwell
Cornwell is now reveling in her personal victory. She tells viewers that it’s important to watch your business finances even if you aren’t good at it. It’s vital to have a team around you that you can trust and rely on. She cautions to always sign your own checks.