Madoff Associate Doesn’t Show Up for Meeting With Investigators

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Oh, look, we gave it away. It's James B. Lockhart!
Photo: WWD

Robert Jaffe, the sharp-dressed head of a feeder fund that funneled millions of dollars into Bernie Madoff's Ponzi scheme, didn't show up to a scheduled meeting with the Massachusetts Securities Division this morning. So far, it's unclear why. "He's not coming," a spokesman for the Securities Division told the Boston Globe. "What happens next is to be determined." Well. This looks rather bad. Jaffe was subpoenaed because investigators want to question him about how much he knew about Madoff’s investment practices; he's also the son-in-law of Carl Shapiro, the Palm Beach billionaire whose $300 million loan Madoff planned to use as a stopgap to keep his Ponzi scheme going a little while longer. Perhaps he fears investigators will discover something and force him to leave the good life behind? Jaffe would hate that. “Once you’ve had filet mignon, you don’t want to go back,” he once told WWD.

Jaffe doesn't show up for meeting on Madoff [Boston Globe]
Madoff's Fashionable Feeder [WWD]