Generally speaking, one of the biggest issues for people hit with the recession is recalibrating their spending habits and tightening their belts so-to-speak. Sure most people's holdings and 401k's have plunged, but that's easy to ignore, just don't look at it. But what we are undoubtedly forced to confront is that Prada bag we want and can't get, or that new flat screen tv, or in some more "social" cases that gala event we want to attend. Yes, resetting one's social calendar is in many times necessary, in some just prudent.
Enter Walter Noel, who recently came under fire when his company Fairfield Greenwich Group lost $7.5 billion of his investors money in their faux fund that invested exclusively with Bernard Madoff. It's unclear yet where Noel stands with respect to repercussions both legally and financially, but socially he seems to be bouncing back at least for the moment. A tipster writes:
I saw Walter Noel this past Tuesday at a black tie event wearing a James Bond-esque velvet dinner jacket.
Walter and his family have been fixtures on the socialite circuit for quite some time. His daughter Marisa Noel Brown has been out and about for a while and featured in many social publications. So the question is, what event did Water attend this past Tuesday and what was this confidence man thinking?
Vassili Verrecchia Shows Off His Favorite Things In His Paris Home
While his brother, Timothee, runs the NYC office, Vassili takes on the Paris-based side of things. To gain some insight to what inspires such a creative and entrepreneurial spirit, we asked Vass to show off some of his favorite worldly and sentimental possessions in his Paris home. See where Vass's travels have taken him...
Fecal Matter
December 19, 2008
8:46pm
gone. what a piece of...
scallywag
December 19, 2008
10:11pm
The literary and self appropriated social(lite) Anthony Hadden Guest had it right last night, we go out for three reasons, because we're bored, heaven is other people and then there's all that candy... So why would Walter want to miss out? Especially now?
NYer
December 23, 2008
7:45pm
Let him enjoy the New York nightlife while he can. If there's any justice in the world, soon Noel will be wearing an orange jumpsuit, like his pal Madoff.
December 25, 2008
3:04am
How much did Mich Jagger, Pierce Brosnan and Wally's other neighbors on his island retreat of Mustique loose in the Madoff scandal
jj
December 26, 2008
1:26am
Nice to see he's having a good time after destroying so many people.What a POS
sj
December 27, 2008
5:04pm
if Walter's clan had not been so overly eager to flaunt their "business success" and new wealth and trappings, perhaps people would be treating him more kindly now. People who did not like the bragging self promotion of the Noel clan may feel entitled to snicker upon finding out it was all phoney.
S. Rheba
December 28, 2008
7:48am
I think of the people on Mustique. Big and small who've probably been ruined by Mr. Noel. Think of all of the people that he's been chumming it up with - Basil, the bread man, Arne's family, the Bronfmans, Anita and Brian, etc., etc. I hope he found these people to be too low on the social ladder to bother with their money.
anonymous
December 29, 2008
1:17am
Aalter Noel is the epitome of all that is wrong in the world, and, in my opinion, perhaps the most offensive person in the Madoff scandal. His entire organization was nothing but a scam. Feigning talents as a money management and due dilligence firm that did little else but jet set around the world and shamelessly promote himself and his family. If there is any justice they will lose every cent of their ill gotten wealth. Funny that Jim Vos of Aksia, who was not collecting 250 million a year in fees for funds at Madoff, was able to, in a single month, find Harry Markopolos' 2005 letter to the SEC ("The world's largets hedge fund is a fraud"), quantitatively verifythat the stratgey could not work, and determine the accounting frim used by Madoff was a fraud. Fairfield Greenwich, whose laughable website, outlines a due diligence process that clearly was not followed in any way shape or form. This elitist scum bag and his posse did nothing but systematically steal, and self promote themselves as some type of "holier than thou because we have money type of family." I despise the Noel's and everything they represent.
anonymous
December 29, 2008
1:19am
Walter Noel....not Aalter...sorry*
partypants
December 29, 2008
1:38pm
Does anyone remember that totally pompous bs spread about the fantastic, saintly Noel women a few years ago? I think it was in Vanity Fair? Anyway...not being *closelikethis* with anyone in that gene pool I can freely say that it was one of the most off-putting profiles I've ever read. They all came off as arrogant entitlement women when it's pretty clear they don't have any pretensions to any such social standing. I've never been overly interested in anyone in that family since reading that, but finding out they are basically the spawn of a white collar criminal gives me a merry holiday chuckle.
partypants
December 29, 2008
1:52pm
Found it! it's right here on gofg. There should be a link to the actual article, in my opinion. It's a masterpiece of boring.
cll
January 1, 2009
2:57pm
Anonymous of Dec. 28th, you said it perfectly. Unfortunately, these scumbag bastards are probably since the news broke, stuffing their personal stolen wealth into all kinds of offshore accounts, etc.
anonymous
January 1, 2009
3:52pm
cll from j1...unfortunatley for us "less fortunate" you are probably exactly right. With an empire spanning 4 continents, they are probably scrambling to stuff every dollar into a wide variety of illegitimate vehicles. With any luck, all the fame they sought, and bought, will prevent them from ever induldging in the spotlight they so desperately craved. I only hope they offended enough of the cognosenti that they are left nowhere to hide...wishful thinking, I know...
Marcus
January 7, 2009
2:19am
I think the only DD they performed was on the Swiss banks they sent their money to. The clients were totally duped and screwed by this "showman extraordinaire". Warren Buffet was right , we just needed the tide to go out . Hope the Noels are left penniless by daddy's lax DD.
anonymous
January 8, 2009
2:56am
Nothing makes me happier than to see this self-promoting, self-congratulatory, social-climbing bunch of Noels get its comeuppance. In contrast to the image they love to project, they are actually incredibly stupid, corrupt, and vile. They are really laughingstocks now!
The Plain Truth
February 11, 2009
2:53pm
Everyone should go to the Fairfield Greenwich website and read through the pages and pages that describe the "due diligence" the firm purports to undertake on their client's behalf. Given the fact that Walter Noel stole $7.5 billion, it actually reads as a comedy - at least for those fortunate enough not to have given Walter their life savings. The Noels chose to travel in the circles they did, and now we see them for their true worth, which is nothing but a bunch of pathetic jackals and thieves.
Skeptique
February 17, 2009
12:00am
Why are social climbing and thievery so closely intertwined? Take the Noels and "Sir" Allen Stanford, the latest Madoff wannabee. Perhaps we should have bred one of the Noels and Sir Allen and come up with the ultimate climbing thief.
Gimpy
May 21, 2009
12:23am
Why is a spring morning in New York a lot like a Japanese acrobatic team? There's always a little nip in the air.
anon
October 28, 2009
6:27pm
People like walter noel and his entire family make me wish for a real life Punisher.
JULIA
December 8, 2009
5:10pm
this is not the worth part , now they haven so many dinner paties, spanding money with richies people , wy dont they donate some money and make a happy cristmas for a poor kid from brazil!!! they are so mean for they sttufs and never help them in nothin!! because god punish them...............
Imadork
December 24, 2009
9:15am
Don't despair Walter Noel! When FGG goes bankrupt, you Ruth, Ezra, and Andre's could always use your God-given talents to open a used car dealership. When customers exert due diligence and request a Carfax Report, just feed them the same proven BS you used to fleece investors -- "trust me." Why are you trying so hard to win back the admiration of Greenwich socialites? Put down the $500 bottle of wine, grab a six pack of Budweiser, a pack of Marlboros, and bring the family down to the local watering hole for a night of levity with folk that couldn't have parsed together the Madoff investment minimum over a lifetime . If I'm to believe your Vanity Fair review, Monica would be the perfect party-planner for our next pig-roast and Cousin Eddie says Marisa's almost guaranteed to win Miss Cobb County 2010. Gosh -- life's look'n pretty good about now . . . ain't it?
Niles Winthorpe IV
June 12, 2010
7:55pm
Wally Noel (pronounced "Nole") was shunned at many golf clubs before his scam exploded,including Shinnecock Hills,National Golf Links,Jupiter Island Club,etc... Rumor has it that his son in law did biz with druggies and has since been asked to make these people whole. We all mock the Noles!