12/28/08 Greenwich Area Legal Eagles Are Expecting A Big Payday In The Walter "Feeder Fund" Noels Scandal

Under No Circumstances Should You Use The Above Lawyer

To Go After Walter "Feeder Fund" Noel And His Greenwich Fairfield Operation.

You Wont Read This In The Greenwich Time:

Greenwich Lawyers Are Finding A Silver Lining In The

Greenwich Fairfield $7.5 Billion Dollar Disaster.

Walter Noel Rescues Greenwich Area Attorneys

From The Slowing Economy And Credit Crunch

Walter "Feeder Fund" Noel's Involvement in the $50 Billion Dollar Madoff Ponzie Scheme Is Breathing New Life In The Area Legal Profession.

Since Walter Noel announced on December 12th that Fairfield Greenwich was involved with the Madoff Fraudulent Investment Vehicle, his investors lawsuits have been swirling. The initial string of legal complaints suggests that the targets will be just as varied as the number of investors that were suckered by Walter "Feeder Fund" Noel.

The most obvious target will be hedge fund middle man Walter Noel himself. But other who could get sucked into the litigation rush include Noel's five son in laws, as well as other relatives that were involved in running Fairfield Greenwich. And everyone wants a piece of Bernard Madoff and his brother Peter's hide.

Suckered Greenwich Fairfield investors are not buying the story that Madoff's sons Andrew and Mark knew nothing about the massive fraud operation.

Fairfield Greenwich investors want the 300 Million a year that was paid to Walter "Feeder Fund" Noel operation for recruiting and giving investors access to the supposedly closed Madoff Fund.

This Legal Brouhaha Might Be So So Rich That Reformed Greenwich Lawyer Chris Fountain Might Be Tempted To Reenter The Legal Profession In Order To Cash In On The Legal Mess That Hedge Fund Middle Man Walter Noel Has Created.

This Madoff and related hedge fund middleman cases, like the ones currently targeting Walter Noel could turn out to be bigger that Enron and World Com combined.

However there is one little problem.

Despite the wide range of potential targets involved with Fairfield Greenwich, there is some doubt about weather Walter Noel's burned investors can get their mega bucks back. Walter "Feeder Fund" Noel and his family members are crying poverty and saying that they were wiped out.

Incredible as it may seem, the Mandoff Hedge Fund Middle Man who was paid $300 Million A Year From The Ponzie Scheme actually has the balls to tell everyone that he is a victim.

The lack of money is creating a huge litigation black-hole, that may just suck up more of Walter "Feeder Fund" Noel's investors money.

This lack of big bucks targets will probably turn off a reformed Greenwich Lawyer like Chris Fountain, because wiped out investors may only want to pay if a lawyer wins and recovers money.

A realist like Chris Fountain will probably tell Walter Noel's victims that the there is little or no recover ability for their hard earned dollars.

On the other hand there is still 6.5 Billion remaining in Fairfield Greenwich and a good part of that is supposedly claimed by Walter Noel's son in laws and other family members.

PLEASE ALSO SEE:

Chris Fountain's "For What It's Worth" Blog Which Is All Over Bernard Madoff And Walter Noel Like White On Rice. Or Should We Say Like Smell On A Skunk

Well here’s an angle I hadn’t considered

Bernie Madoff was brought down by Obama (!) because Madoff was financing a massive U.S. spy ring of Mossad. Or so says Al-Jazeerah, and they wouldn’t be every...

ALSO:

An exercise in futility?

Bernie Madoff must reveal all his assets to a federal judge by this Wednesday. Even if the man’s Ponzi scheme was a simple one, capable of fooling only the most naive and unsuspecting investors (plus some greed-blinded fund of fund managers) surely he was sophisticated enough to transfer his assets ......

Life is unfair

Bernie Madoff is going to jail for the rest of his life, Walt Noel may avoid that fate but will certainly be stripped naked by rapacious creditors and his own attorneys, but Washington Mutual, fraudulent lender to every deadbeat in the country, escapes all censure. The bank itself went down, of course, wiping out its shareholders but its principals are even now eyeing Walt’s Villa Mustique and private jet collection, wondering how little they’ll have to pay for them......

Hot times in Palm Beach

With a tip of the hat to New York Social Diary, photos of Walter and Monica having a blast in Florida (note attache case stuffed with cash under pink flowers, background)......

Hypo

My old criminal law professor, Loftus Becker, used to challenge the class by posing “hypos” - a hypothetical set of facts from which we were to determine whether a crime had been committed.

He’d have liked this one:

Suppose you run a “fund of funds”, collecting $200 million per year to select other hedge fund managers for your clients’ money and then monitoring that manager’s performance.
Suppose that an integral part of one particular manager’s trading strategy was to sell off all securities at the end of each month, park the proceeds in cash or cash equivalents and start the process anew the first day of the next month.

Suppose that, in your role of monitor, you received a monthly statement from that hedge fund manager showing that the proceeds for the preceding month had been placed in the Fidelity’s Spartan U.S. Treasury Money Market Fund.

Suppose that no such fund existed, and had not existed for at least the past three years.
Suppose that, instead of confronting that manager and demanding an explanation, you busied yourself preparing for your annual Christmas jaunt to Mustique and Monica’s trip to a Mexican wedding.

Have you engaged in such reckless neglect that your behavior has gone beyond mere civil liability and crossed the line to criminal fraud?

Life in the slow lane

When Monica Noel sat in for her now infamous interview with the New York Post she insisted that the Noels were just an ordinary family whose children grew up in a normal cottage. Rich? Not the Noels.

So what does a “not rich, normal Greenwich family” wedding look like?

The Times tells us:

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