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It’s becoming more clear that Fairfield Greenwich Group (FGG), not only didn’t do due dilligence on Madoff when they lost $7.5 billion, but their salesmen (i.e. Founder Walter Noel’s son-in-laws) weren’t vetted all that well either. Last week a tipster told us of son-in-law Andrés Piedrahíta failing upward to partner at FGG.
And today a tipster tells us of Philip Toub, another one of Noel’s sons-in-law, and the firm’s agent with the Abu Dhabi Investment Authority investors. He was a partner in Fairfield Greenwich Group, and is married to Alix Noel. He’s also an ex-bartender. Below a photo of his “glory days” at a “Pimps and Hos” party. John Flanagan (a “big party promoter” according to our tipster) is standing next to him.
Phil, as I’m sure you know, was a bartender before becoming a full partner of FGG. Attached is a picture from those days, from a “Pimps and Ho’s” party. Next to him is John Flanagan, a big party promoter.
I wish to remain anonymous.
UPDATE: Another tipster writes…
and an ex-valet parker in LA whilst he was trying to “act”. married alix and was quickly set up in family biz.
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Jackie Preta
Lauren Bush
Andrew Nodell
Chappy Morris
KEEPIN’ IT KLASSY
February 9, 2009 1:36pm
and an ex-valet parker in LA whilst he was trying to “act”. married alix and was quickly set up in family biz. I am sure his creds were 100% though. I am sure he had a banking background somwhere!! ha.
February 9, 2009 2:05pm
And your surprise is???
You just had to be willing to marry one of the “pony” girls, let her follow grandma’s ideas about “eating apples through a chicken wire fence,” and bingo, you were set for life!
Nothing ever said about having brains! Just look at all the DD the partners did!
February 9, 2009 5:53pm
Whoa!! That is an oooooold pic of Flanagan..
February 20, 2009 2:51pm
What one did when they were in college should not have any bearing on the Madoff issue?? 29 years ago!