01/21/09 Another Victim Of Greenwich Resident Walter "Feeder Fund" Noel Comes Forward

MORE TRUST FUND BABIES ARE CHECKING THE CLASSIFIED ADS THANKS TO GREENWICH GOLDEN COUPLE WALTER AND MONICA NOEL ....



Another One Bites The Dust Thanks To Walter "Feeder Fund" Noel

You Wont Read This On The Business Pages Of The Greenwich Time....

WALTER "FEEDER FUND" NOEL STRIKES AGAIN !!!!!

Yet Another Loser Emerges in Madoff Scandal
New York Times Blogs

Auriga International Advisers, a hedge fund company registered in the British Virgin Islands, lost more than 400 million Swiss francs, or about $350 million, that had been invested with the disgraced financier Bernard L. Madoff, the company’s main shareholder said Wednesday.

Jacques Rauber, who is described as the majority shareholder of Auriga International Advisers in a 2007 filing to Britain’s business register, confirmed reports in the Swiss weekly SonntagsZeitung that the company’s Auriga International fund was wholly invested in the Fairfield Sentry fund, The Associated Press reports.

That fund, run by Walter M. Noel’s Fairfield Greenwich Group in Connecticut, invested all its $7.3 billion in assets with Mr. Madoff, who is accused of running a $50 billion Ponzi scheme....

...Information about Auriga’s investors was scarce. The company says on its Web site that ”clients include both institutional investors and high net worth individuals.”

Auriga is licensed to provide financial management services by authorities on the British Virgin Islands, a Caribbean tax haven known for its corporate and banking secrecy.

Go to Article from The Associated Press via The New York Times »
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