I was living in New York City in 1989 when Leona Helmsley and her husband, Harry Helmsley, prominent real estate moguls, stood trial for tax evasion. It seemed that a day did not go by where the news and tabloids did not cover the Helmsley story. The trial ran for two months during the summer of 1989 and resulted in a conviction of Mrs. Helmsley for evading $1.2 million in federal income taxes. Their lifestyle and business practices punctuated the end of 1980s and a decade remembered in business for greedy excess.

Leona Helmsley, who starred in her own hotel ads as a “queen of her empire” put the Helmsley name on most of her properties. However, she was portrayed by former employees and witnesses at her tax evasion trial as greedy, pompous and abrasive.

From The New York Times

“In 235 counts in state and federal indictments……the Helmsleys were accused of draining their hotel and real-estate empire to provide themselves with such extravagances as a $1 million marble dance floor above a swimming pool, a $45,000 silver clock, a $210,000 mahogany card table, a $130,000 stereo system, and $500,000 worth of jade art objects.”

She paid millions in fines and served time (18 months) in federal prison in Connecticut.

I have not heard much about Helmsley since her conviction. According to CNN, Leona Helmsley shared some of her wealth in philanthropical pursuits. Her

“charitable activities included a $25 million gift to New York Presbyterian Hospital, $5 million to Katrina relief and $5 million to help the families of firefighters after the September 11, 2001, terrorist attacks. In the late 1990s, she gave millions of dollars to help rebuild African-American churches that had been burned in the South. “

I can say that I was pleased to see that the “Queen of Mean” had done some things that helped others.

Even after her conviction, marketers for her hotel properties used her persona in an ad campaign. Now that is making lemonade out of lemons.