andres piedrahita yacht

Piedrahita Forced Off Yacht

Vanity Fair's Vicky Ward, who has been hounding FG's super salesman -- the feeder fund that lost $6.9 billion of investors' money to Bernie Madoff -- says today that her reporting has pressured Piedrahita off his recently purchased $30 million boat, Oxygen:

"Ten days ago or so, Piedrahita had planned to pick up friends in Dubrovnik harbor to take them aboard Oxygen on a cruise of the Dalmatian coast. At the last moment he aborted the mission. 'Vicky Ward has made my presence on the boat too embarrassing,' he told them, according to my source. 'My lawyers are livid with me. Some of my relatives (the Noel family, also the shareholders of FG) are livid with me. So instead why don't you join me instead on my farm in Palma?'"

FG previously told us that Piedrahita is trying to sell the yacht to raise funds for Madoff victims. But that's not much consolation to FG investors who have read all about the spendthrift fun-loving Piedrahita's long history of indulgence and Vicky Ward's new revelations that he hopes to give up none of his wealth.

• Main content

trending now

Chynna Phillips fears 'triggering' husband Billy Baldwin: 'I'm...

Kendra Wilkinson shares rare photo of son Hank Jr., 14, to...

Courteney Cox regrets not being a 'firmer parent' to daughter...

Buckingham Palace promotes its strawberry preserve days after...

'1000-Lb. Sisters' star Tammy Slaton shows off tremendous weight...

Taylor Swift fans believe they've identified statue in Kim...

Machine Gun Kelly celebrates his 34th birthday with Megan Fox...

Taylor Swift 'worried' Travis Kelce will 'get freaked out' by...

• Click to share on Facebook (Opens in new window)
• Click to share on Twitter (Opens in new window)
• Click to email a link to a friend (Opens in new window)
• Click to copy URL

YACHTSMAN’S HIGH & DRY

Thanks for contacting us. We've received your submission.

POOR Andrés Piedrahita . The Fairfield Greenwich co-founder — who helped steer $7 billion into Bernie Madoff ‘s Ponzi scheme — had been enjoying a lovely summer with his wife and kids aboard a spanking new $22 million yacht, the Oxygen, in the Mediterranean. But then Vicky Ward reported on his luxurious holiday in the Huffington Post, and Piedrahita — whose spokesman told Page Six recently he was merely showing the boat to potential buyers — was shamed into disembarking and retreating to his farm in Palma, Mallorca. Ward tells us that Colombian-born Piedrahita canceled a cruise down the Dalmatian coast. “He had planned to pick up friends in Dubrovnik harbor,” Ward said. “At the last moment he aborted the mission. ‘Vicky Ward has made my presence on the boat too embarrassing,’ he told them, according to my source. I suppose I’ve turned into his nemesis.”

Share this article:

Failing Upward: Andrés Piedrahíta's Previous Track Record

Apparently Bernard Madoff's Ponzi scheme wasn't the first time social businessman Andrés Piedrahíta , son-in-law to Walter Noel and Europe salesman for Fairfield Greenwich Group sent investors coin to money heaven.  Albeit the previous time wasn't via a Ponzi,  his track record shows a bewildering pattern of failing upward.  Moreover, did Walter not even perform due diligence on his own employees (aka son-in-laws...aka conflict of interest)?  A tipster writes:

"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.

Perhaps the Internet is now making such losses and track records much more visible.  A salesman can't just pack his bags, go to another country, and use his social connections to grease another fund.  Perhaps we are now going to see acccoutability?

The Guest List

Is Montauk Part Of The Hamptons? Captain Skip Rudolph Chats Fishing, City People, & Where Locals Really Hang

How Comms Guru & Founder Of The PR Net Lisa Smith Put Her Stylish Stamp On The Industry

Who Are The Assoulines? Meet The Chic First Family Of Luxury Publishing

Who Is Sarah Hoover? Meet The Fabulous First Lady Of New York's Art Scene

Olympia Of Greece On Fashion, Entertaining & More At Home In London

Meet The Glamorous Next Generation Of Billionaire Heiresses

Who Is Nats Getty? The Oil Heir & Trans Activist Is Living Life Loud & Proud

Worldly Socialite Haya Maraka's Elegant Etiquette Tips For The Modern Lady

Haute Hostess Christine Chiu's Guide To Throwing The Most Fabulous Fête

Marina Larroudé's New Brand Isn't Just Stylish, It's Beyond Brilliant

Who Is Tamara Falcó? Meet Spain's Biggest Socialite Turned Netflix Reality Star

The Top 5 Debutante Balls Of The World

The 2011 Socialite Class Superlatives, Part Deux

The 2011 NYC Socialite Class Superlatives

Madoff’s Chief Feeder Fund Exec Shamelessly Sails the Seas in His New $30 Million Yacht

I have unwelcome news of Andres Piedrahita, the brash Columbian chief shareholder of Fairfield Greenwich, the investment group mostly owned by the Noel family, that gave half their money under management – 6.9 billion dollars- to Bernie Madoff, and yet who took one per cent of clients fees and twenty percent of their returns for supposedly doing “due diligence”.

You’d think the family – Mr Piedrahita, 50, is FG’s founder, Walter Noel’s oldest son-in-law – might be lying low, given the outrage of their ruined clients and the morass of lawsuits they face. For most of them, this is so. For Mr Piedrahita?

Au contraire.

Look no further than the website of luxury yacht sellers, Camper and Nicholsons to see pictures of “Oxygen” the new Euros 22,000,000.00 custom-made boat that Piedrahita, took possession of in June. He is now cruising the Adriatic with wife Corina Noel and their children. I am told he has plans to cruise around the Dalmatian coast and Corfu.

Recently he has been spotted in St Tropez and in Venice. Over the weekend I was with financiers who say they’ve seen him out and about as if nothing ever went awry in his life. Acquaintances believe this blatant vacationing is “a tremendous risk” – no doubt referring to the very angry Latin Americans who allegedly gave him money to invest and could not legally declare it. I have heard he would be unwise to set foot in certain places around the globe, people are so furious with him.

Having written the piece “Greenwich Meantime” for Vanity Fair magazine about Piedrahita and his family– I’d call his current ostentatious act, stupid, shameless – and deeply offensive to all those ruined by the Fairfield Greenwich investment group.

A mutual friend told me while I was reporting the Vanity Fair piece that Piedrahita used to boast he’d “ruin his own mother if he needed to in order to make money.” He is exactly the type of man who gives financiers an appalling identity at the worst possible time.

Just as the government and business leaders worldwide are doing their best to steady the seas and fix the economy, uniting the fragile bond between Wall St and Main St, the last thing they need is this icon of unadulterated greed and pomposity displaying his allegedly ill-gotten wealth like a peacock displaying his feathers. Recently I interviewed the chairman of one of the world’s biggest banks. “We do not own a single corporate plane” he said with great pride.

Recent Articles

Jared kushner has won and the new york times knows it, the problem with netflix's scoop, could putin or his oligarchs invest in kushner's balkan development deal.

10 CEO Mega-Yachts (PHOTOS, POLL)

With the economy mired in a historic recession, now is certainly not the time to flaunt your world-class mega-yacht (assuming you actually own one). Yet, as Vanity Fair's Vicky Ward pointed out on the HuffPost recently, Andres Piedrahita, the main shareholder of the Fairfield Greenwich Group, recently took possession of a $30 million yacht . This, of course, was after Fairfield Greenwich had siphoned billions into Bernard Madoff's Ponzi scheme.

Despite the economy, there's no shortage of floating palaces among today's more upmarket business leaders. In fact, Microsoft co-founder Paul Allen has two huge vessels, while Russian billionaire -- and owner of the U.K.'s Chelsea soccer club -- has three enormous ships.

Which ship is the most ludicrously enormous? Which is barely seaworthy? View our SLIDESHOW and VOTE below (NOTE: all costs are approximate):

Get HuffPost Business On Facebook and Twitter !

Support HuffPost

Our 2024 coverage needs you, your loyalty means the world to us.

At HuffPost, we believe that everyone needs high-quality journalism, but we understand that not everyone can afford to pay for expensive news subscriptions. That is why we are committed to providing deeply reported, carefully fact-checked news that is freely accessible to everyone.

Whether you come to HuffPost for updates on the 2024 presidential race, hard-hitting investigations into critical issues facing our country today, or trending stories that make you laugh, we appreciate you. The truth is, news costs money to produce, and we are proud that we have never put our stories behind an expensive paywall.

Would you join us to help keep our stories free for all? Your contribution of as little as $2 will go a long way.

Can't afford to donate? Support HuffPost by creating a free account and log in while you read.

As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.

Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.

Contribute as little as $2 to keep our news free for all.

Dear HuffPost Reader

Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.

The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?

The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you’ll consider contributing to HuffPost once more.

Already contributed? Log in to hide these messages.

Popular in the Community

From our partner, more in business.

5th International exhibition of boats and yachts Moscow Boat Show a Huge Success

• Inspiration

Related News

Popular news this week, popular news this month, latest news.

• Yacht Charter & Superyacht News >

Written by Zuzana Bednarova

The first pavilion of Crocus Expo IEC hosted an extraordinary exposition of the 5th International exhibition of yachts and boats Moscow Boat Show. The show had been incredibly famous for five years already not only thanks to the specialists of the market segment as well as professional sportsmen but also thanks to those who consider sailing sport to be their hobby and well cherished dream.

Moscow Boat Show 2012

The organizer of the project was the Crocus Expo International Exhibition Centre. The show was supported by Aston Martin Moscow, Burevestnik Group logistics department and the Yachting specialized magazine.

The exposition space increased up to 30 000 sq m and was accommodated in all 4 exhibition halls of the fairgrounds! 280 Russian (Arkhangelsk, Vyborg, Kazan, Kaluga, Republic of Karelia, Moscow and Moscow region, Nizhny Novgorod, Novorossiysk, Novosibirsk, Rostov-on-Don, Samara, St. Petersburg, Sverdlovsk region, Sochi, Chelyabinsk, Tyumen and Yaroslavl region) and foreign ( Denmark , Germany , Holland , Greece , Spain , Italy , Cyprus , China , Latvia , Poland , USA , Turkey , Ukraine, Finland , France , Montenegro and Croatia ) companies participate in the show.

Moscow Boat Show provided the perfect platform from which to preview new products, evaluate market trends, and establish long-lasting and commercially profitable partnerships. Despite the dynamic changes taking place in Russia and the rapid growth of the yachting sector, the show continued to complement and reflect the industry’s demand and is a promotional opportunity not to be missed!

Unique exhibits were presented at the show for the first time: exposition of private submarines from U-Boat Russia company, Marquis Yachts 420 SB motor yacht from Sport Bridge S. Marine series, SAGA-415 yacht from Saga Boats Norwegian shipyard, Jetlev-Flyer from MS Watersports.

Moscow Boat Show a Great Success

More than 400 yachts were displayed within the frames of the event including the largest boats ever exhibited in Russia – the 19-meter giant motor yacht Princess 54 as well as the Princess 50 yacht from Nord Marine and Baja speed boat from Burevestnik.

Domfinland OY unveiled a luxury project from Finnish real estate: a seaside premium class hotel in Hanko named consonant with the location Merihanko.

The trade fair was traditionally opened by a Gala Opening Ceremony. Arcady Zlotnikov, First Deputy Director Crocus Expo IEC, was the first to take the floor at the official opening ceremony. He greeted warmly exhibitors, guests and visitors of Moscow Boat Show. Nikolay Krjuchek, Deputy Chief of the State Inspection on Small size Vessels (GIMS) of the Ministry for Emergency Situations of Russia, Georguiy Shaiduko, Acting President of the Russian Yachting Federation (VFPS), Olympic champion in Atlanta and Ekaterina Grishechkina, Director of exhibition Moscow Boat Show also spoke at the ceremony.

The high-ranking guests noted dynamic development of the branch which well reasoned the intensive growth of the exposition and appearance of rather unique “gems”.

A number of business meetings and negotiations were held within the frames of the project: the exhibition was visited by a large delegation of Greek businessmen for the purpose of establishment of mutually beneficial cooperation with the Russian colleagues.

More than 400 yachts on display at the Show

Russian Yachting Federation (VFPS) celebrated its 100 anniversary within the frames of Moscow Boat Show and arranged an exposition of future sailing sport museum (rare awards, gifts, articles from private collections, pictures and etc.) which had been collected since 1912.

Due to carefully chosen running dates the show was visited by more than 26 000 people. The majority of the visitors were of targeted audience – vessel owners and specialists of the branch.

The work at the next edition of the show is under way! The show will be held in March 2013. The overall exhibit space will comprise 40 000 sq m. The exhibition will impress with exclusive exhibits and the latest technological achievements.

Moscow Boat Show was not only an entertaining but at the same time a business promotional event. Participation in the trade fair was a unique opportunity to present a company and products to a distinctly selected targeted audience of industry specialists. They were well prepared to discuss business in the Russian market and even to close a deal on-site.

The show helped representatives of yachting business to get acquainted with their Russian colleagues and gradually improved national yachting market to a new level. It is obvious that for 5 years of its running the project has turned to a status event of the international exhibitions calendar.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "5th International exhibition of boats and yachts Moscow Boat Show a Huge Success ".

• Charity & Fund Raising
• CharterWorld News
• Classic Yachts
• Coronavirus
• Cruise Ship
• Ecological Yachts
• Expedition Yachts
• Expert Broker Advice
• Feature Superyachts
• Interior Design
• Legal & VAT Yacht Issues
• Luxury Catamarans
• Luxury Gulet
• Luxury Phinisi
• Luxury Trimarans
• Luxury Yacht Design
• Luxury Yachts
• Marinas & Harbours
• Marine Ecology
• Marine Electronics
• Marine Equipment
• Mega Yachts
• Modern Yachts
• Motor Yachts
• New Launch Yachts
• New To Charter
• Open Style Sports Yachts
• Private Jets
• Sailing Yachts
• Social Media
• Sports Yachts
• Superyacht Crew
• Superyacht Photographers
• Superyacht Products & Supplies
• Superyacht Refits
• Superyacht Reviews
• Superyachts
• Uncategorized
• Yacht Builders
• Yacht Charter
• Yacht Charter Destinations
• Yacht Charter Picks
• Yacht Charter Specials
• Yacht Delivered to Owner
• Yacht Designers
• Yacht Events & Boat Shows
• Yacht Fashion
• Yacht Industry News
• Yacht Photos
• Yacht Racing
• Yacht Racing & Regattas
• Yacht Safety Equipment
• Yacht Support Vessels
• Yacht Tenders
• Yacht Videos
• Yachting Associations
• Yachting Awards
• Yachting Business
• Yachts For Charter
• Yachts For Sale

Quick Enquiry

Superyacht news:.

Email Your Yachting News to: news @ charterworld.com

5th Moscow Boat Show, March 20-25, 2012

Russian debut for U-Boat superyacht submarines at Moscow Boat Show 2012

The Gala Opening Ceremony of the 5th Moscow Boat Show held on March 20

Maxi-Open Mangusta Yachts presented at Boat Shows in Palm Beach and Moscow

Reduced charter rates offered by the beautiful 42m Baglietto superyacht TIMBUKTU in Greece

The 30m luxury motor yacht ANNABEL II offering special rates in Croatia this summer

Feadship launches 92m superyacht PROJECT 1012

Sailing yacht nominees for the 2024 World Superyacht Awards

Life through a lens: superyacht photographer Jainie Cowham tells us about her amazing experiences behind the camera

Planing yachts nominees line up for the World Superyacht Awards

Columbus Yachts launches 43m motor yacht NIGHT FURY II

33m classically styled motor yacht FAR NIENTE launched by Hoek Design

Boat International announce the nominees for the World Superyacht Awards 2024, as we showcase the ‘over 500GT’ category

A closer look at the World Superyacht Award nominees in the category for displacement motor yachts under 499 GT

Benetti Unveils 50m Motor Yacht Dyna R – A Fusion of Luxury and Personalised Elegance

49m sailing yacht ACAPELLA is offering a fabulous June ‘fill the gap’ special offer on charters in Croatia

Mangusta announce the launch of the sixth hull in the MANGUSTA 104 REV series

• 125212, Moscow, Leningradskoye Highway, 39 p. 6 Royal Yacht Club
• Miami +1 786 233 7721 London +44 203 807 94 54 Moscow +7 495 215 19 11
• [email protected]

Walter Noel