The Bernie Madoff Fraud: Making Snobs Less Snobby

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Photo: Patrick McMullan

At least something good has come from the Bernie Madoff scandal. The Daily Beast's Lucinda Franks lunched at the Palm Beach Country Club, where she picked up some gossip about Ellen Jaffe, the daughter of Carl Shapiro, the apparel entrepreneur who lost $545 million of his personal fortune to Madoff, and the wife of Madoff associate Robert "Once You've Had Filet Mignon You Never Want to Go Back" Jaffe. "Ellen was so snobbish before all this happened, she wouldn’t even say hi to me," one woman tells Franks. "Now her husband is being pursued by the law and she is embarrassed. So of course, she couldn’t be friendlier to me." [Daily Beast]