Fairfield Greenwich Founders Sell Their Assets


Fairfield Greenwich isn’t officially dead yet, but its partners are liquidating their personal assets. Walter Noel and Jeffrey Tucker are joining the great rush to sell off their ownership stakes in private planes, a trend we’ve been seeing for a while:

NYP The pair recently dumped a shared interest in a Cessna 560XL private jet, according to a person close to the firm.

The duo purchased a one-sixteenth share in the jet in late 2006, giving them between 25 and 50 hours of use a year. Experts estimate the sale saves them a portion of the plane’s $200,000 annual maintenance fees, plus $2,000 for each hour of use.

Also, it looks like Tucker will sell of his big horse farm near Saratoga — previously, it was just reported that he planned to sell some horses. So, will Madoff victims ever see any of this cash, or is it all headed straight overseas? Remember, their assets haven’t been frozen or anything.