Hyper Local News Pages

Monday, March 2, 2009

03/02/09 NOELS WERE NOT GOLDEN IN SOUTHAMPTON: Walter "Feeder Fund" Noel Felt Chill Before Bernard Madoff Ponzi Scheme Was Exposed

The family of embattled billionaire Walter Noel, co-founder of the Greenwich, Conn., hedge fund that invested $7.5 billion with Bernie Madoff, wasn't welcomed with open arms by the less wealthy, less fun-loving WASPs of Southampton - even before the scandal broke.

Vanity Fair - which profiles Noel, his wife, Monica, and their five daughters, Corina, Alix,
Marisa, Lisina and Ariane - reports that after Walter and his wife, Monica, bought a $10 million house in Southampton in 2001, they were blackballed at the Shinnecock Hills Golf Club and the Southampton Bathing Corp. (known as "the beach club"). The comely daughters, instead of wearing Lily Pulitzer, favored "thongs and sarongs," VF reports. The source adds that the Noels "lit up their house like a Vegas casino, which shocked some of their neighbors." A Noel rep responded: "This sounds like mean-spirited and petty gossip."

Full Story: www.nypost.com

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