[All photos by NICK HUNT for PMc]. Last night, the American Folk Art Museum Gala celebrated arts advocacy  at the Tribeca Rooftop. Despite the chill outside, guests of the event kept warm with cocktails and by tearing up the dance floor. More»

The similarities between top Madoff pitchman Walter Noel and ever-smiling socialite pitchman Arpad “Arki” Busson are interesting to say the least.  While Noel’s Fairfield Greenwich Group was highly vaunted as the main entry point into the Madoff fund, it’s beginning to look as if Busson’s EIM asset management fund may have been a quasi European equivalent.  With already confirmed losses of $500million+, a tipster indicates that the losses could be in fact much greater when it’s all said and done:

Busson has only declared about $500 million US/£230 million (5% of their portfolio), but its unclear how much he really lost.  Remember he is Swiss-based, and different regulatory laws could allow him to be much less forthcoming right now, giving him some breathing room to scramble to try and make back the gap so that investors don’t go batshit.

So what exactly do the Noels and Busson have in common?  More»

[Engaged couple Uma Thurman and Arpad "Arki" Busson. Photo via The Evening Standard]

First came love (with Elle McPherson), then no marriage, then two babies in the baby carriage. Second came Uma, then poor dilligence, then $500 million+ loss from investor negligence?  Enter Arpad “Arki” Busson. More»