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[The very good looking Piedrahíta Family Christmas Card]
Apparently Bernard Madoff’s Ponzi scheme wasn’t the first time social businessman Andrés Piedrahíta, son-in-law to Walter Noel and Europe salesman for Fairfield Greenwich Group sent investors coin to money heaven. Albeit the previous time wasn’t via a Ponzi, his track record shows a bewildering pattern of failing upward. Moreover, did Walter not even perform due diligence on his own employees (aka son-in-laws…aka conflict of interest)? A tipster writes:
“I thought you would be interested in knowing that this is not the first time that his son-in-law Andres Piedrahita has lost investors’ money. In 1982/1983 he was working at a Wall Street firm called Balfour MacLaine which was a commodity futures trading company (it has now withdrawn from that business). Piedrahita was again selling to rich individuals, such as Samuel Botero (son of the famous painter), a highly leveraged futures fund called TAPMAN. It made all the same promises as Madoff and had the same result (though not through fraud), and his investors lost all their money. Back then it was only mere $millions. I know this first hand as I worked next to him.
Perhaps the Internet is now making such losses and track records much more visible. A salesman can’t just pack his bags, go to another country, and use his social connections to grease another fund. Perhaps we are now going to see acccoutability?
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Lauren Bush
Andrew Nodell
Chappy Morris
Chappy Morris
February 3, 2009 4:51pm
Oh. My. God. Another lesson for Nebraska girl: IT’S “FALLING UPWARD” not FAILING UPWARD — what’s next ‘VALENTIMES DAY’? ugh, everyday.
seriously… how can you possibly carry a conversation here?
February 3, 2009 5:57pm
FALLING UPWARD is ok. Just a matter of perspective.
For examples of “Failing Upward”, look here. Yes, it is in fact a term: http://paul.kedrosky.com/archives/2007/02/07/the_art_of_fail.html
February 3, 2009 10:20pm
5th is a real stinker….EB?
Just listen to Bernie if you want to search out points of pressure for accountability, ….
http://pacificgatepost.blogspot.com/2009/01/bernie-madoff-letter-of-explanation.html
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….in his own words? Now get the subpoena requests out.
February 4, 2009 1:32am
once again, you idiots are making fun of the noels despite your “leave the noels!” alone posting a few weeks ago.
can you shut the hell up already?
February 4, 2009 4:01am
This peanut butter recall is driving me nuts!
February 4, 2009 8:13am
kkkkk!!! So funny this comment about 5th,l Agree!!!
The “Leave the Noel’s Alone!” post was perhaps tongue-in-cheek? But in all fairness, we were decrying the low blows that many other publications and blogs were making (i.e. sexual history of the girls, physical features, etc.). That being said, the past 3 stories are all newsworthy tips that are relevant to coverage, and thus were posted.
February 9, 2009 5:53pm
OMG he sold TAMPONS!!!!!
February 9, 2009 6:36pm
….and yet still could not stem the bloodflow of lost money.
March 17, 2009 6:51pm
Andres piedrahita’s father Samuel–fled the american justice system.He killed a man in miami driving under the influence of alcohol and fled to colombia.
You can bet that like father like son
May 22, 2009 7:22am
How ironic. now that they are down, the media and friends step on them.
when they were featured in all the magazines, as a gorgeous wealthy
super social family, everyone wanted to be around them. Went to their
amazing parties, ate their food and partied with them until all hours of the
night.?? They have not been proven guilty yet!!! Give them some
slack.!!!!