Before They Were Socialites, Part 2
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The Four Hottest Venues Of Spring Fashion Week
Hope, Help, Relief Haiti Benefit On Standard's 18th Floor
Foursquare And Zagat Combine Sources
Robert Verdi Gets A Show, And Support From Friends Like Fern and TinzFailing Upward: Andrés Piedrahíta's Previous Track Record
[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he was working at a Wall Street firm called Balfour MacLaine which was a commodity futures trading company (it has now withdrawn from that business).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?
Lizzie Tisch
Jennifer Lopez
Jackie Frie...
Lydia Morrison
Fifth Ave
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?
Anonymous
February 3, 2009
5:57pm
FALLING UPWARD is ok. Just a matter of perspective.
GUESTOFAGUEST
February 3, 2009
8:05pm
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
Fecal Matter
February 3, 2009
10:20pm
5th is a real stinker....EB?
James Raider
February 4, 2009
1:21am
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
-
….in his own words? Now get the subpoena requests out.
me
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?
SPODE
February 4, 2009
4:01am
This peanut butter recall is driving me nuts!
Nick
February 4, 2009
8:13am
kkkkk!!! So funny this comment about 5th,l Agree!!!
GUESTOFAGUEST
February 4, 2009
9:21pm
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.
lalala
February 9, 2009
5:53pm
OMG he sold TAMPONS!!!!!
partypants
February 9, 2009
6:36pm
....and yet still could not stem the bloodflow of lost money.
Anonymous
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
Anonymous
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.!!!!