Madoff Investor Walter Noel, Bouncing Back (In Style)?

by Rachelle Hruska · December 19, 2008

Walter NoelGenerally 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?