• Lindsay Lohan says she feels "scared" and "violated" after the break-in at her LA home last weekend. (We're guessing that's the same way Sam Ronson feels when she comes home to find LiLo waiting for her in the bushes, but what do we know?) In related news, though, Lohan's neighbors are now hoping she'll pick a new neighborhood to terrorize. [Sun, NYDN]
• Things don't always go Anna Wintour's way. When she headed to dinner after her David Letterman taping the other night, the poor editrix had to wait 20 minutes for her boyfriend, Shelby Bryan, to show up. And then the restaurant had the nerve to try and seat them at a non-private table. The indignity! [P6]
• Chelsea Handler has dumped her boyfriend, Ted Harbert. Making matters a little awkward: Harbert runs E!, which means her ex is still her boss. [NYDN]
• Cindy Crawford is coming clean about a deep, dark secret. She says that although you might have thought she had a perfect body, she really does have a bit of cellulite. Guess you'll have to focus on her inner beauty instead. [Star] More
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Gossip
Lindsay's Fears, Anna's Snub, & Cindy's Confession
Exclusive
Walter Noel Makes His Grand Return

Andrés Piedrahita may have canceled his summer cruise down the Dalmatian coast aboard his $22 million yacht, but other members of the family are still getting outside for some fun in the sun. A source tells us—and we've since confirmed—that Walter Noel, the founder of the Fairfield Greenwich Group, Piedrahita's father-in-law, and the man who "lost" $7 billion of his investors' money to Bernie Madoff's epic scam, is golfing once again. After taking a year-long hiatus, Noel returned to the Sebonack Golf Club in Southampton last week for the first time since August 2008. And he's been back two times since then. It's hard to blame him. Once he's indicted this fall, he probably won't have much time to practice his swing, now will he? You'll find Noel's score history—which indicates his golf game hasn't suffered much since he hit the links last summer—below. More
Fraudsters

Andrés Piedrahita Has a Yacht to Sell You | A couple of days ago, Vanity Fair contributing editor Vicky Ward reported that Andrés Piedrahita, Walter Noel's son-in-law and a senior exec at Fairfield Greenwich, recently took possession of a $30 million yacht, and has since been spotted cruising the Mediterranean. Piedrahita's response? He's just showing off the boat to potential buyers, silly.More
Buyers & Sellers
Miracle on 78th St: Marisa Noel Brown Finds a Buyer
That was quick! Marisa Noel Brown, the youngest daughter of disgraced hedge fund manager Walter Noel, and her husband Matt Brown, have found a buyer for their townhouse at 12 East 78th Street. The 20-foot-wide manse, which was officially listed for $12 million in May, went into contract late last week. No word yet on what the buyer agreed to pay for it, although it's probably substantially less than what the couple was hoping to get given how desperate they were to unload the property quickly. (It's almost certain they took a big loss on the sale: The couple purchased the home for $13.5 million in January 2008.) No word yet on who the buyer is either, although whoever it is will probably need to spend quite a bit of cash making the home inhabitable. Demolition work had just been completed on the six-story brownstone when the Noel family became embroiled in the Bernie Madoff scandal and the couple elected to put it up for sale. Update: A source "close to Ms. Noel Brown" tells the Observer that the price was $9.75 million. [Cityfile, Stribling]
Fraudsters

Walter Noel: Bruised But Not Broken | Fairfield Greenwich, the hedge fund that directed billions to Bernie Madoff, was handed over to another fund last month called Sciens Capital. Sciens didn't pay anything for it (not that anyone would pay anything for Walter Noel's heaping pile of crap). And now it seems the change in ownership is ensuring that some of Noel's cronies continue to receive paychecks. A tipster with a copy of a Sciens Powerpoint presentation tells Dealbreaker that the fund "seems to be basically a bunch of FGG guys," the transfer was a "smoke and mirrors show for the investors, and "nothing has changed." In that case, champagne by the pool in Mustique in 15 minutes! Be there! [Dealbreaker]
The Disgraced

Happy News From the House of Noel | Daily Intel has some exciting news this afternoon about Marisa Noel Brown. (You remember Marisa, don't you? She's the daughter of Walter Noel, the hedge fund manager who lost about $7 billion of his investors' money to Bernie Madoff.) It seems Marisa started a jewelry line last fall—a couple of months before the Noel name was disgraced forever—and Marisa happily reports that for the next week, her line will be featured in window of Henri Bendel on Fifth Avenue. Yay! She also says her company now has a website; do note that she seems to have dropped the "Noel" and is going by "Marisa Brown" these days. Do also give serious consideration to purchasing one of her $50-85 creations. "There's always the chance that Irving Picard will sue them and redistribute their profits to the old people and charities that lost all their money to Bernie Madoff." [NYM/Daily Intel]
Buyers & Sellers

Marisa Noel Brown Gives In | The townhouse belonging to Marisa Noel Brown has officially hit the market. The youngest daughter of disgraced hedge funder Walter Noel (who had $7.5 billion invested with Bernie Madoff), and the wife of Matt Brown (who worked for her father at Fairfield Greenwich), Marisa's been contemplating a sale for quite some time now. But now it's official and 12 East 78th Street has been listed with Stribling for $12 million. Keep in mind, though, that "it's well-known the couple is willing to take much less." [NYO]
Lawsuits

Walter Noel Sued Yet Again | Walter Noel's messy legal situation just got messier. Irving Picard, the court-appointed trustee responsible for liquidating Bernie Madoff's investment firm and recouping funds for Madoff's victims, just filed a $3.2 billion lawsuit against Noel's firm, Fairfield Greenwich Group. So while Noel may get a chance to play golf in the Hamptons this summer, he's clearly going to have to learn how to swing a club and talk to his lawyer on his cellphone at the same time. [NYT]
Roundup
Wall Street: Thursday Morning
• AIG's Ed Liddy now says the company will need three to five years to carry out its restructuring plan and repay taxpayer bailout money. [NYT]
• Hedge funds actually saw returns rise more than three percent in April. [DB]
• Walter Noel's Fairfield Greenwich hedge fund is no more. The disgraced firm is handing over its remaining $2.5 billion to Sciens Capital. [NYP]
• The rich get richer: As financial firms raise capital and pay back TARP money, it's Goldman, Morgan Stanley and JPMorgan that are profiting. [Fortune]More
Updates

The Noels' Golf Game Goes On | It looks like the Noels haven't been banned from Greenwich's Round Hill Club, after all. Daily Intel spoke with the club's manager who assured them that the Noels remain members "in good standing," and also happen to be "very nice people." [Daily Intel]
Fraudsters

The Noels Suffer Another Bruising Blow | Bernie Madoff was kicked out of the Palm Beach Country Club a couple of months ago, as we first reported. Now it looks like the Walter and Monica Noel are facing the same sort of rejection. A tipster tells Guest of a Guest that the disgraced family has been booted from Greenwich's Round Hill Club. Update here. [GoaG]
Casting

Bernie, The Movie | Last month, a movie producer announced he was working on a movie about the Madoff affair. (You can see the official website here.) The folks at The Daily Beast has a few casting suggestions, and while we're not sure about their pick for Bernie himself (Dustin Hoffman), having Barbra Streisand play Ruth and Sam Waterston take the role of Walter Noel is truly inspired. [The Daily Beast via Dealbreaker]
The Hamptons

Summer at the Noels | Walter and Monica Noel are looking for someone to rent the family home in Southampton for July and August! Daily Intel reports the 7,000-square-foot home with ten bedrooms, nine-and-a-half baths, six fireplaces, and a heated pool, will run you $350,000 for July and $375,000 for August. There's no telling if FBI agents will stop by one day to dig up the front yard in search of buried treasure, at least you know your summer won't be lacking any drama. [NYM]
Fraudsters

Not So Golden in Greenwich | Massachusetts securities regulators charged Walter Noel's Fairfield Greenwich Group with fraud this morning. The complaint isn't short on potentially incriminating detail. In one 2005 email, for example, Bernie Madoff informs a Fairfield exec that "the less you know about how we execute, and so on and so forth, the better you are." [NYT, WSJ]
The Disgraced

Andrés Piedrahita Speaks Out | A member of the "golden" Noel family is finally speaking out. Andrés Piedrahita, the party-loving Colombian-born son-in-law/employee of Walter Noel, tells the Wall Street Journal that since Fairfield Greenwich lost more than $7 billion to Bernie Madoff, "life has changed a lot." But that's not because he did anything wrong! He was just as shocked by the news as everyone else, which is why he remains blissfully free of any regret: "I and look at myself in the morning, and I'm very proud of what I've done, and so are my partners." Isn't that comforting to hear? [WSJ]









