Monday, December 22, 2008

Monica and Walter M. Noel Lose over $7B Thanks to Partner, Bernie

Madoff may have been wildly reckless with billions of dollars--but he didn't do it alone. For instance, just how he got hundreds of the wealthiest persons in the world to invest in his schemes came from the help of some very skilled (wealthy) inviduals like Walter M. Noel.

Walter and his wife, Monica head up the Fairfield Greenwich Group which lost over $7B dollars thanks to their good buddy, Bernie.

Affected in this loss are their four grown daughters and four sons-in-law that work at the company plus a children's clothing manufacturer based in Greenwich.The Noel's were featured in a 2002 issue of Vanity Fair and had homes in the most exclusive areas around the world.

Camelot, for the Noels has ended.

For more information, please visit this NYT article

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