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Lynn Tilton says she regrets the racy Christmas card she sent to colleagues in the late 1990s when she worked for a firm called Amroc Investments. 

Tilton discussed it as part of a Bloomberg Businessweek interview she gave amid Securities and Exchange Commission charges that she defrauded her investors. 

First, the backstory. 

Before she became the founder and CEO of the private-equity firm Patriarch Partners, Tilton sent a racy card out to a limited number of clients of Amroc Investments on whose accounts she worked.

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Private-equity investor Lynn Tilton acknowledged in a Bloomberg interview that she regretted the Christmas card for which she became infamous in the late 1990s. AP Images

Tilton has repeatedly said that in the '90s, some of her clients would regularly ask her what color underwear she had on during phone calls. 

Instead of being upset by sexist banter on the phone, Tilton decided to take a provocative measure. Tilton sent out a Christmas card of her in underwear, complete with a whip and knee-high boots. 

But now Tilton says she regrets the decision and that she had someone in her corner trying to talk her out of it: her mother. 

"My mother told me I would regret it," she said in the Bloomberg profile. "And I hate it when my mother is right."

For posterity, here's a shot of the infamous card. 

Lynn Tilton's infamous Christmas card — which she now says she regrets.
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