Robert Jaffe has been sued for fraud by the SEC. “Bob” is the son-in-law of Carl Shapiro, the 96-year-old philanthropist who first started Bernie on his way in the 60s, made millions with him and, until recently, was depicted as Bernie’s last victim because he wired $400,000 to Madoff to keep the firm afloat. Now’s there’s some thought that Carl was in on the whole scam and sent the money in to preserve his good name, rather than to help his god friend Bernie. Whatever, perhaps his son in law will rat him out to shorten his own jail sentence.
Tag Archives: Robert Jaffe
As God is my witness, they’re not going to lick me. I’m going to live through this and when it’s all over, I’ll never be hungry again. No, nor any of my folk. If I have to lie, steal, cheat or kill. As God is my witness, I’ll never be hungry again.
(A reader just complained about this post being mean – I dug it up and think it’s still funny so here it is again – sorry, reader)
Earlier this week we reported that Kathy Fuld has stopped buying $30,000 of bedsheets a month from Greenwich Avenue’s own Lynnens. Now, courtesy of Page Six we can tell you equally startling news: Bob Jaffe, Bernie Madoff’s Palm Beach bagman, has stopped seeing his manicurist and is doing his nails himself. So naturally, in view of these stirring tales of self-sacrifice by the financially afflicted, we wondered how the Noel family was bearing up. A quick trip up to 175 Round Hill Road revealed the answer: with the help of caddy boys from Round Hill Club, Monica and the Fabulous Five are standing firm – they’re fit and rarin’ to go. Here’s one of the daughters now, getting a mudpack and a manicure. Does she look worried?
Pressure mounts on Madoff middlemen. Er, Walt? That would mean you, too.
The documents and Jaffe’s silence in the face of a barrage of questions by Massachusetts Secretary of State William Galvin illustrate the intensifying focus on middlemen and so-called “feeder-funds” that funneled investor money to Madoff.
“Galvin is taking a novel and aggressive approach to scrutinize the middlemen more closely and find out what they knew and when,” said Jay Gould, who heads law firm Pillsbury Winthrop Shaw and Pittman LLP’s hedge-fund practice.
“Ultimately he is looking if any of these middlemen committed criminal fraud,” added Gould, who once worked for the U.S. Securities and Exchange Commission. “Even being stupid could end up getting you a very severe penalty.”
When Galvin’s team asked Jaffe about commissions and other issues on February 4, Jaffe invoked the Fifth Amendment.
Jaffe has said he is as much a victim as anyone, telling the Palm Beach Post in December that while he earned 1-to-2 percent of an investor’s first profits in Madoff’s fund, he knew nothing about his “dark side.”
That sounds familiar.
Bob Jaffe, Bernie Madoff’s bag man in Palm Beach, is missing or at least, isn’t in the public eye. I’m not saying that Mark and Andy took him on a half-way flight over the Gulf, only theta they show up in Dad’s jet, take off, and Jaffe can’t be found. Splash?