Jesse Bogdonoff
{{Short description|American jester and financial advisor of Tonga}}
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| name = Jesse Bogdonoff
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| birth_date = {{Birth date and age|1955|04|01}}
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| nationality = American
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| citizenship = United States
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| occupation = Financial adviser
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| employer = Bank of America
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| known_for = Financial scandal
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Jesse Bogdonoff (born April 1, 1955) is a former Bank of America financial advisor to the government of Tonga and court jester of Taufa'ahau Tupou IV, the king of Tonga. He was embroiled in a financial scandal.{{cite news| url=http://news.bbc.co.uk/2/hi/business/3141297.stm | work=BBC News | title=Tongan court jester faces trial | date=11 August 2003}}
Scandal
Bogdonoff made headlines in 2001 and 2002 after being accused of mismanaging millions of dollars from the nation of Tonga. Gaining royal approval, he managed the Tonga Trust Fund founded by the Tongan government in a scheme in which the Tongan government sold passports to frightened Hong Kong nationals who were unnerved by the 1997 expiration of the British lease on Hong Kong from China.{{cite web |url=https://edition.cnn.com/2001/WORLD/asiapcf/auspac/10/03/tonga.scandal/ |title=Tonga's 'court jester' scandal no laughing matter |publisher=CNN |date=3 October 2001 |access-date=16 July 2023}}
In 1999, Bogdonoff recommended moving the Tongan funds to the Millennium Asset Management Company specialised in investing in viaticals (life insurance policies of dying people), which promised a 30% annual fixed return but went bankrupt in 2002, and the $33-million Tonga Trust Fund (representing 40% of the government’s annual revenue) was effectively wiped out{{cite web |url= https://www.smh.com.au/world/no-joke-jesters-missing-33m-20040219-gdidzp.html|title=No joke: jester's missing $33m |work=The Sydney Morning Herald |date=19 February 2004 |access-date=8 April 2024}}{{cite web |url=https://mg.co.za/article/2002-01-01-tonga-says-us-jester-lost-millions-of-dollars/ |title=Tonga says US jester lost millions of dollars |work=Mail&Guardian|date=1 January 2002 |access-date=8 April 2024}}
The ensuing scandal resulted in the resignation of the deputy prime minister and education minister of Tonga, and there were calls to impeach other ministers. The government proceeded to sue Bogdonoff and all the parties involved in the transaction for fraud and negligence.{{cite web |url=https://www.rnz.co.nz/international/pacific-news/144775/trial-of-former-tongan-court-jester-set-down-for-march-next-year |title=Trial of former Tongan court jester set down for March next year |publisher=RNZ |date=11 August 2003 |access-date=16 July 2023}} Without admitting guilt of any fraud, Bogdonoff settled his part of the lawsuit in 2004.{{cite web |url=https://www.scmp.com/article/445241/court-jester-settles-passports-case-tonga-not-laughing |title=Court jester settles in passports case, but Tonga is not laughing |publisher=South China Morning Post |date=20 February 2004 |access-date=16 July 2023}}He agreed to pay Tonga $US100,000, a percentage of his income until 2014, and 50 per cent of the proceeds of any future book or movie deal about his time as court jester, plus any gambling winnings or inheritance.
Post-scandal life
As of 2006, Bogdonoff has not been to Tonga since 2004 due to his history there.{{cite news| title=Tonga's court jester finds a new role| url=http://www.theage.com.au/news/world/tongas-court-jester-finds-a-new-role/2006/09/22/1158431902435.html |accessdate=24 May 2021| location=Melbourne |work=The Age| first1=Joel |last1=Gibson |date=23 September 2006}} That year, under the name Jesse Dean, he founded the Open Window Institute of Emotional Freedom in Sonoma County, California, offering classes in hypnosis and using hypnosis to aid in recovery from post traumatic stress.
In 2009, the scandal was turned into a play by writer Joseph Silovsky.{{cite web |url=https://www.stuff.co.nz/entertainment/arts/724157/Tongas-court-jester-becomes-play-vid |title=Tonga's court jester becomes play (+vid) |publisher=Stuff |date=1 March 2009 |access-date=16 July 2023}}
Jester
Bogdonoff's status as official court jester of Tupou's court made sensational news when the financial scandal hit the media in 2001. Tonga was the first royal court to appoint a court jester in modern times, doing so in 1999.{{Cite web |url=http://www.thenoodlebowl.com/jesters/images/reality/jddecree.jpg |title=Archived copy |access-date=2008-01-28 |archive-url=https://web.archive.org/web/20121106004548/http://www.thenoodlebowl.com/jesters/images/reality/jddecree.jpg |archive-date=2012-11-06 |url-status=dead }} Bogdonoff claimed he was made court jester at his own suggestion, because his birthday is April 1 (April Fools' Day) — with the aim of promoting Tonga as a tourist destination.
References
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