Posted on 01/29/2009 4:49:01 AM PST by xtinct
GREENWICH, Conn. — Walter Noel Jr. and his wife Monica had it all: Luxurious houses on Connecticut’s wealthy coast, Palm Beach and the Hamptons, a Park Avenue pied-a-terre and, most of all, a hilltop retreat on an exclusive island in the Caribbean named after a goddess. They hobnobbed with Mick Jagger and Tommy Hilfiger, who sounded a bit jealous of their view.
The couple’s five tall, attractive daughters mostly married foreign men in high social circles, adding to an extraordinary network of international connections that along with remarkably consistent returns helped Noel expand his New York-based money management firm with billions of investments from the elite around the world.
"They almost were like a fashion magazine version of a very wealthy, prosperous attractive family," said David Patrick Columbia, who runs New York Social Diary.com, a site that observes the lives of the rich. "They’re very well liked, very popular."
That world is now in jeopardy as investors line up to sue over the $7 billion in client funds that Noel’s Fairfield Greenwich Group invested with Bernard Madoff, the alleged architect of what investigators say may be the largest Ponzi scheme in history. Madoff is accused of duping investors out of as much as $50 billion by paying returns to certain investors out of the principal received from others.
(Excerpt) Read more at bostonherald.com ...
Oh, Boo Hoo.....
Sell 2 of the lux houses and ask the kids for some grocery money....
A recent article on the Noel’s painted them as ugly ugly ugly neighbors where ever they appeared.
Insufferably arrogant in the extreme.
Rude and inconsiderate of everyone else’s space.
Their disappearance from the social scenes was met with relief.
Anybody got a barf bag?
this article muct be a plant from a noel pr guy. previous articles
in other publications indicated that the noels were hated on the island
for their rude, grasping ways. of course, noel knew.
yes, but the daughters married euros
The second largest Ponzi scheme in history. Social Security is the largest.
"He’s a very decent person, very caring person, perhaps naive in some ways, but far from a fool," Ball said. "I think he is on balance a victim.".."
Oh BS, as if This guy is as innocent as the baby Jesus!...If you get big enough to play in those leagues you know the score and Madoff was too good to be true. He ought to forfeit every dime he made with Madoff and end up as broke as his customers.
It is a happy thought. They won’t go down that far, but they will perceive less luxury as the pit of Hell.
Huh?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.