Walter Noel's Son In Law Could
Help Him Send Money To Columbia
$6.5 Billion In Columbia Will By You A Massive Estate
And Your Very Own Private Militia
Fairfield Greenwich investors believe that Bernard Madoff middle man Walter Noel and his foreign born son in laws have stuffed hundreds of millions of dollars into offshore tax havens accounts. The lawyers representing Greenwich Fairfield investors say that these offshore monies could prove tricky to recover.
In the weeks since the Bernard Madoff Scheme was uncovered on Dec. 11 SEC investigators and forensic accountants have been scouring Greenwich resident Walter Noel's books. It is reported that Walter "Feeder Fund" Noel and his family members have laid claim to most of the $6.5 Billion that remains in Greenwich Fairfield.
Fairfield Greenwich investors claim that Walter "Feeder Fund" Noel and his family members have offshore accounts possibly in the Caribbean, South America and Europe.
If Walter Noel is telling the truth and he has nothing to hide, then he should immediately provide his investors a detailed list of all of his and Fairfield Greenwich's assets, as well as, the assets of other family members involved in Fairfield Greenwich. This disclosure should include, but not be limited to, all investments, loans, lines of credit, business interests and brokerage accounts, as well as, there exact locations and account names.
Fairfield Greenwich investors should receive a complete accounting of the $6.5 Billion that Walter "Feeder Fund" Noel supposedly has left over.
But since Madoff middleman Walter Noel is not fully cooperating with his investor's attorneys tracking down the estimated $6.5 billion supposedly remaining at Fairfield Greenwich is already promising to be a very long and complicated financial investigation.
And should Walter "Feeder Fund" Noel prove less than forthcoming regarding these offshore accounts, investors lawyers could be in for a very tough time.
These tax havens are designed under foreign laws to be nearly impervious to investor's subpoenas, regulatory complaints or other inquiries. It is notoriously tough for US officials to seize or even see what's in secret tax haven accounts.
However, Fairfield Greenwich investors say that their lawyers will trace the monies associated with Walter Noel and his family and they do not care where the trail goes. Lawyers after Walter "Feeder Fund" Noel intend to be dogged in their pursuit of Fairfield Greenwich.
SEC regulatory and criminal investigators have privately told investors lawyers that there are Fairfield Greenwich accounts that appear to have received or sent money to offshore locations.
Why Hasn't The SEC and FBI frozen all of Fairfield Greenwich and the multiple Noel families business and investment accounts?
Are they waiting for the Noel Clan to start a new life in Columbia under the protection of the FARC?
If the SEC and FBI doesn't move rapidly to freeze the assets of Bernard Madoff middle man Walter Noel, Then the Greenwich resident may use the money to transform into El Padrino Walter Noel.
FOR THE RECORD:
Not everyone fell for the Madoff mystique. The SEC now admits that it has been receiving formal complaints about Mr Madoff's methods since 1999, including a 2005 report entitled The World's Largest Hedge Fund is a Fraud. The report was shelved in 2006; no action taken. The SEC, under its new management, must find out why. It must establish why feeder funds like Fairfield Greenwich Connecticut, were so relaxed about investing vast sums without even a semblance of due diligence. Could have been the $300 Million that Bernard Madoff paid Walter Noel year after year?
The SEC must ask Walter Noel's sons in laws the awkward questions about how they suposedly could have known so little for so long.
PLUS:
Bernard Madoff regularly sent bundles of money to offshore accounts in the Caribbean and Europe, the Observer newspaper in London.
Madoff Headline Roundup:
NY Post
Swindler extraordinaire Bernard Madoff got a taste of his own medicine last weekend when a burglar stole a $10,000 statue from his posh, $9.4 million Palm Beach estate, according to a police report. The theft occurred sometime between 3 p.m. on Dec. 19 and 11:30 a.m. last Sunday, a week after Madoff confessed to ripping off $50 billion from investors in a decades-long Ponzi scheme. The five-foot, copper artwork overlooked the Madoffs' inground pool, and portrays two young lifeguards sitting on a raised stand......
He also owns a $3 million oceanfront estate in Montauk, LI, which has been pummeled by severe beach erosion. The surrounding estates have been largely spared.
Wall Street Journal
Bernard Madoff thanks to a strong marketing hook: the French aristocrat put his money where his mouth was.Mr. de La Villehuchet, who was found dead in an apparent suicide at his New York office last week, lost a total of $1.5 billion on behalf of customers such as the Rothschild & Cie investment bank and Liliane Bettencourt, one of Europe's wealthiest individuals and a large shareholder in French cosmetics company L'Oreal SA.
But Mr. de La Villehuchet, who was 65 years old, also had $50 million of his own money tied up in Mr. Madoff's alleged Ponzi scheme, his brother Bernard de La Villehuchet said in a telephone interview this weekend. Over the years, this personal investment was tantamount to a guarantee for other investors. Earlier this year, for example, as the financial crisis was spreading and investors sought safe havens, Mr. de La Villehuchet urged friends and relatives to transfer more of their wealth to Mr. Madoff -- as Mr. de La Villehuchet had done himself, according to his brother.....
NY Daily News
The day before a French aristocrat killed himself in despair over the Bernie Madoff Ponzi scheme, he was preparing to part with some of the luxuries in his life.Rene-Thierry Magon de la Villehuchet's wife called their Connecticut yacht club on Monday to cancel their $2,500-a-year membership, a staffer said."She was crying," said Milford Yacht Club treasurer John DePalma, whose secretary took Claudine Villehuchet's call on Monday....
Wall Street Journal
Wealthy Latin Americans appear to be among the big losers in the $50 billion Ponzi scheme orchestrated by financier Bernard Madoff, although many in the region are reluctant to step forward due to the private nature of Latin American fortunes, worries about security, and concerns about tipping off local tax authorities.Some were brought into the Madoff investment fund, which the New York-based financier confessed earlier this month was a Ponzi scheme, through Banco Santander, the Spanish bank, which has major operations through the region.
Other investors appear to have been introduced to the scheme through their friendship with Andrés Piedrahita, a socially prominent, Colombian-born banker living in Madrid and London. Mr. Piedrahita, is a son-in-law of Walter Noel, founder of the Fairfield Greenwich Group, which may have lost $7.5 billion it had invested with Mr. Madoff. In a statement released in Spain, Fairfield Greenwich said it was a victim of fraud and was considering legal action to protect its clients. Mr. Piedrahita couldn't be reached for comment.....
AFP
Clients of Switzerland's second biggest bank Credit Suisse have lost up to a billion Swiss francs in the alleged pyramid scheme of Wall Street titan Bernard Madoff, according to a Sunday media report.Citing the bank's "internal estimates," Swiss Sunday newspaper Sonntag said customers had lost "between 900 and 1,000 million francs (840-934 million dollars, 598-665 million euros)."Credit Suisse spokesman Jan Vonder Muehll was reported confirming that clients had lost money, but he did not specify the amount.Muehll also stressed: "Credit Suisse did not actively recommend or sell Bernard Madoff investment products.".....
Bloomberg
Investors looking to recoup some of the $50 billion they lost in Bernard Madoff’s alleged Ponzi scheme may get a better idea what the New York financial adviser has left when he is forced to reveal his assets to regulators. Madoff, 70, must provide a detailed list of all investments, loans, lines of credit, business interests, brokerage accounts and other holdings to the Securities and Exchange Commission by New Year’s Eve, a federal judge ruled.
Madoff’s foreign business units were given until Jan. 26 to provide a similar accounting. The list is to include all assets held for his “direct or indirect benefit,” U.S. District Judge Louis Stanton in Manhattan wrote in a Dec. 18 order in the SEC lawsuit against Madoff. The list must describe “the source, amount, disposition and current location of each of the items listed.”....
NY Daily News
The writer of a string of Hollywood hits - including "The Curious Case of Benjamin Button" - sued his investment manager Friday for losing a bundle in Bernie Madoff's Ponzi scheme.Screenwriter Eric Roth claims his "trusted investment manager," Stanley Chais, "simply handed off" his money to Madoff while collecting "enormous fees." When he learned of his "heavy" losses last week: Roth exclaimed: "I'm the biggest sucker who ever walked the face of the Earth. The tragedy is the people who lost their life savings and their dreams."....
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