Walter Noel Son-In-Law Piedrahíta Lost Money Before?


Does Andrés Piedrahíta, Walter Noel’s son-in-law and Fairfield Greenwich salesman, have a history of blowing his clients’ money. Guest Of A Guest reports the following note from a tipster:

    “I thought you would be interested in knowing that this is not the first time that his son-in-law Andres Piedrahita has lost investors’ money. In 1982/1983 he was working at a Wall Street firm called Balfour MacLaine which was a commodity futures trading company (it has now withdrawn from that business). Piedrahita was again selling to rich individuals, such as Samuel Botero (son of the famous painter), a highly leveraged futures fund called TAPMAN. It made all the same promises as Madoff and had the same result (though not through fraud), and his investors lost all their money. Back then it was only mere $millions. I know this first hand as I worked next to him.

If true, it doesn’t seem to have been much of a career bump. Somehow we don’t see him pulling this off a second time, however.