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Just because your parents have money doesn’t mean you do. Katheryn Kalikow can attest to that. Kalikow is the daughter of New York real estate mogul Peter S. Kalikow, who is worth a billion dollars. Katheryn and her boyfriend Brian Whalen were arrested on drug charges after advertising their heroin enterprise on Craigslist.

According to court documents, police officers set up an appointment with Katheryn Kalikow and Brian Whalen in The Bronx near the campus of Fordham University. The drug pushing couple showed up to the meeting destination in a blue Volkswagen. When the cops got to the car Kalikow said, ” I have the drugs. He’s my boyfriend and I was holding on to it for him.”

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Police arrested the pair and upon searching their vehicle found three medium sized bags each with ten small baggies filled with brown powder. The detectives confirmed the brown powder was heroin. Despite being arrested for possession of drugs with an intent to deliver, Brian Whalen’s attorney said his client entered a not guilty plea and has been released from jail. Katheryn Kalikow’s lawyer has yet to respond to any requests for comment.

Peter S. Kalikow is the former owner of “The New York Post.” He purchased the paper in 1988 when Rupert Murdoch was forced to sell and then lost the paper to bankruptcy in 1993. Since then Peter Kalikow has been running a lucrative real estate business from his 49-floor highrise building on Park Avenue.

I wonder if Peter Kalikow will come to the rescue of his daughter despite her legal problems.

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