Head of Fund Invested in Madoff Said to Commit Suicide

[Dr.Phool]

Source: NY Times, via TPM

Rene-Thierry Magon de la Villehuchet, a founder of the hedge fund Access International Advisors, was found dead early Tuesday in his office in Manhattan, the French business daily La Tribune reported on its Web site, after losing as much as $1.4 billion that had been invested with Bernard L. Madoff, the money manager accused of running a $50 billion Ponzi scheme. Mr. de la Villehuchet, 65, committed suicide, La Tribune said, citing a someone close to Mr. de la Villehuchet.

Mr. de la Villehuchet had been trying to recover the money that Access International raised in Europe and invested through Mr. Madoff’s business, La Tribune reported.

Paramedics responded to a call at a Manhattan address matching that of Access International, people briefed on the situation told DealBook. They found a victim, whom they pronounced dead, but have not yet identified the man.

Luxalpha, a $1.4 billion Luxembourg-based fund sold across Europe, invested in Bernard L. Madoff Investment Securities. Access International last week called Mr. Madoff’s arrest “a shocking development” in a note to investors. Investors in the fund included a unit of Rothschild and several clients of the Swiss bank UBS.

(snip)

Read more: http://dealbook.blogs.nytimes.com/2008/12/23/head-of-fund-invested-in-madoff-said-to-commit-suicide/

---

Proud of yourself yet, Bernie?

[chrisbarrett]

1. Very sad

[Robbien]

2. Not that sad. The man collected an annual 1.5% fee on that $1.4 billion

plus a good percentage of annual profits.

[Connie_Corleone]

9. Well, it doesn't really matter now since he killed himself.

[Robbien]

11. Sure did matter when for the last ten years he lived the high life on other people's money

and now the people who lost their money are seeking to get it back through a Fed bailout.

[roguevalley]

17. I hope Madoff gets that rap too.

[NashVegas]

3. I Think We Need a Name for This Syndrome

Where people who lose such outrageous amounts of money off themselves in their despondence.

[Dr.Phool]

4. Madoff Madness?

Mad Money was already taken by Kramer.

[dixiegrrrrl]

25. Moneycide? Embellzecide?

[thecrow]

39. CNBC is reporting he did it with a box cutter

No suicide note.... slashed his bicep (?) and wrists.
Now isn't that weird?
I would think someone of his life of ease would have chosen a more comfortable route, like pills and alcohol or gun... but a box cutter? Sounds like maybe someone got to him.

[Billy Burnett]

42. Another 20th hijacker?

:shrug:

[AnneD]

43. Actually....

exsanguination is a pretty easy way to go. Remember your Godfather and your history-Roman patriarchs would slit their veins-thus saving them from trial and their family from penalty.

[MadMaddie]

45. He slashed his wrists with a boxcutter.....and then ....he may

have taken pills.......and then he shot himself too....Apparantly the crime scene was pretty bad. He must have been extremely despondent he wanted to make sure he died...

[Sub Atomic]

13. Comeuppance?

:shrug:

[hatrack]

20. Nemesis

nt

[bluesmail]

5. According to the article: a unit of Rothschild

and several clients of the Swiss banks UBS lost big.

[notadmblnd]

6. It's a shame that money meant so much to him.

Was it his own fortune he lost or did he lose the fortunes of others?

[October]

31. Maybe it was the shame of losing other peoples' investments?

/nt

[closeupready]

7. I doubt Bernie cares.

I could be mistaken, but often with people like that, empathy is lacking.

[bunnies]

8. Madoff should be charged with manslaughter.

Its HIS fault this happened. Fucking asshole.

[w4rma]

21. It's not Madoff's fault this guy loved money more than his own life.

He just couldn't stomach having a regular paying job like most people have.

[DemReadingDU]

10. A banker in London committed suicide too

12/22/08 HSBC banker found hanged in five-star hotel suite

An HSBC banker has been found hanged at a five-star hotel, after apparently committing suicide.

Christen Schnor, 49, was found by a hotel worker hanging by a belt in the closet of his £500-a-night suite at the Jumeirah Carlton Tower hotel in Knightsbridge, West London. A note was found by his naked body.

Mr Schnor worked at the bank’s offices at Canary Wharf, East London. He earned a six-figure salary as head of insurance with responsibility for Britain and the Middle East. Scotland Yard said that there were no suspicious circumstances surrounding the death of the Danish-born banker.

Mr Schnor rented a four-bedroom apartment costing £390-a-day for his wife, Marianne, and two children in Lower Sloane Street near the hotel. It is understood that he was staying at the hotel while building work was being carried out at the apartment.

A spokesman for HSBC said: “Our thoughts are with his family and we will do all we can to help them at this difficult time.”
http://www.timesonline.co.uk/tol/news/uk/article5380553.ece

[mike_c]

12. hard to weep for the greedy rat bastards....

Instead, I'll hope that they learn to deal with their karma in more effective ways than self offing.

[Hardrada]

33. Like community service or entering a religious order that

helps AIDS victims and other suffering people.

[foxeyes2]

14. Very sad

This is very sad. I am sure he has loved ones that will be devastated by this news.
the ripple effects of this will be felt for years to come.

[sarcasmo]

15. Death over poor, I fear we will be hearing much more of this in the near future.

[Baby Snooks]

27. Shades of 1929

Quite a few committed suicide in the Crash of 1929. I guess you can judge the state of the economy by the number of bankers and brokers who commit suicide. Hard to have much compassion for many of them considering how many investors will end up committing suicide as well.

[lyonn]

16. It looks like the rich "untouchables" are being ripped off too

Such arrogance. The rest of us are suppose to pull ourselves up by our bootstraps. Will george ever feel this pain? Will some Sheik buy his ranch? Who bought his Dallas home? The real culprits will go about freely blaming others for our up and coming depression. What ever happen to "trust but verify?". Again, pure arrogance.

[shanti]

18. and it starts...

:(

[Mari333]

19. I am glad I have always been poor

helps one set priorities about why one inhabits a 3 dimensional body on a blue planet.

[sarcasmo]

36. It does make it easier for me to watch the news in a twisted way.

[The Backlash Cometh]

22. Damn. This is so tragic. The ones that had honor are probably the ones who

will resort to this option.

[northernlights]

24. only if they're Japanese

the rest simply can't conceive of having to earn a living.

[Waiting For Everyman]

23. So much for responsibility and facing the music.

That only matters to the rich when they're berating us for being their victims. It's all one-way with them. They're total hypocrites and bullshitters. And on top of that, grossly incompetent.

[TheCowsCameHome]

26. I doubt these people could ever relate to the suffering of the poor

no matter how much money they lost.

I have trouble feeling bad for high rollers living in places like Aspen having to sell off their mansions.

[Catherine Vincent]

28. How sad!

It must be true about rich people. When they lose their wealth, they're lost.

[mnhtnbb]

29. Very sad to see people who cannot bear the shame of losing money.

This is just the start, I fear.

[sarcasmo]

37. Greed, is what they lived their life by.

[taught_me_patience]

30. Hopefully Madoff follows his example n/t.

[Hardrada]

34. Not. Let.Him.Off. Easy!

Trails and public cursing and prison time instead breaking rocks in the hot sun.

[RedCloud]

32. How many more die because these guys have too much?

That's the other end of this spectrum.

[peacetalksforall]

35. Where we have come in 70 years: the suicides were on Wall Street - now it's pretty much

interntional - and international is one reason why we're poor - our jobs went off shore, our factories went off shore, international companies are buying out our companies and real estate and are financing our federal debt, our dismissive, conniving corporations bank off shore and register their business off shore so they are immune from legislation and laysuits. Our land, our parks, our mines are given to foreign countries. Pensions and investments mean nothing. All a plan. A sad plan. And we just keep paying for it all.

[Fire1]

38. No conscience, no soul = Evil

[Hekate]

40. He was staring other people's ruin in the face, after unwittingly leading them into it...

As far as I can tell, the only person really responsible for Madoff's Ponzi scheme was Madoff himself. Mr de la Villehuchet probably knew nothing of the crime until it all blew apart -- then in trying to get his clients' money back realized he could not. Then he killed himself.

Charming and friendly Madoff now has blood on his hands.

Hekate

[ravencalling]

41. This isn't really sad

I was more concerned about the lady who tried to kill herself over the loss of her house due to foreclosure. Empathy is lost on those who through their money do not have to live in the same reality as the rest of us and would rather die then do so.

To them I say, go for it. Since they don't have the courage to build their characters the old fashioned way.

My condolences to the family.

[PassingFair]

44. Poor bastard was down to his last billion.

SOB

:cry: