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Designer Valentino Denies Madoff Connection: UPDATE

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UPDATE:

WWD reports that a spokesperson for Valentino denies any links between the designer and Bernard Madoff.

Is retired fashion designer Valentino Garavani joining Kyra Sedgwick and Kevin Bacon and Mort Zuckerman on the growing list of Bernard Madoff's high-profile victims, a misfortune which has become a strange new status symbol?

The London Evening Standard "Londoner's Diary" reports:

Sources from the fashion world inform me that the perma-tanned fashion designer is among those to have been defrauded of a significant amount of cash thanks to the massive $50 billion fraud which Madoff (right) perpetrated on his trusting clients, which was only exposed last month. The scale of Madoff's losses are said to be larger than Bill Gates' entire fortune.