What Now for Madoff's Web?

What Now for Madoff's Web?

A peek into the legal future for the Berniverse.

Posted Thursday, July 16, 2009 - 10:19am

The Gist:

Co-founder of the Fairfield Greenwich Group, manager of the largest Madoff feeder funds. His investments in Madoff Securities LLC reached $6.9 billion. Father to "five total babes," the Noel sisters, well-known in Greenwich high society. Noel and partner Jeffrey Tucker reportedly took in approximately $100 million in fees from clients through their Madoff activity.

What's Next:

Noel's NYT topic page reads like a legal wire, with copious coverage of the many pending lawsuits faced by FGG. The complaints, naturally, include one from Picard. He hopes to secure approximately $3.5 billion from Noel's group.

In a comment to the New York Times in April, an FGG representative said his company "conducted vigorous and robust monitoring on an ongoing basis of the Madoff investments."

In the meantime, daughter Marisa has a line of jewelry that's really taking off.

  • Amy Tennery is a proud former intern of The Big Money. She is currently an editorial assistant at The Real Deal and can be reached at at@therealdeal.com.
Photo by Mario Tama/Getty Images
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