Sunday, July 25, 2010

Maddoff Columbian Drug connection
EXCERPT:
Corina, the eldest, married a Columbian named Andres Piedrahita, who became a partner of Fairfield Greenwich. Corina and her husband apparently relocated to London some years ago and subsequently spent considerable time in Spain as well while raising funds from European and Latin American investors. Rumor has it that Andres Piedrahita "may have done something fatally stupid by placing 2x-3x-laundered Columbian Drug Cartel money into the FFG-Madoff sinkhole".

Walter Noels Brazilian connection (Haegler)
EXCERPT:
We've told you about Walter Noel's Brazilian niece, Bianca Haegler, the local sales rep who is apparently not licensed to sell investment products in Brazil. (Actively marketing offshore funds is also illegal in Brazil.) Fairfield Greenwich Group has removed her name from its web site after getting questions about her from the Wall Street Journal.

Noel family in Vanity Fair

The Brazilian connection in the Madoff scandal
EXCERPT:
A Fairfield partner, Andres Piedrahita, who is married to Mr. Noel’s daughter Corina, is responsible for the firm’s activities in Latin America and Europe. He is said to have brought scores of wealthy investors from both places into the Fairfield Sentry fund.

Philip J. Toub, another Fairfield partner who is also Mr. Noel’s son in law, oversaw the firm’s activities in Brazil and the Middle East. Mr. Toub’s family connections to the giant Saronic Shipping Company in Lausanne, Switzerland, also helped him lure wealthy Swiss investors.

Fairfield, like Mr. Madoff’s firm, seemed to be a close-knit family business. Matthew C. Brown, who is also a partner at the firm, married Mr. Noel’s daughter Marisa in 2002.

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