One of Bernie Madoff’s buddies and who had benefited to the tune of billions from the fraud was found dead in his swimming pool. According to the Palm Beach Post:
Billionaire Jeffry Picower, 67, whose reputation as a generous philanthropist was sullied when investigators claimed he was a beneficiary of Madoff’s $65 billion Ponzi scheme, was found by his wife and housekeeper shortly after noon at the bottom of the pool at his $28 million South Ocean Boulevard estate.
Despite efforts by paramedics, he could not be revived, said Don Taylor, acting battalion chief for Palm Beach Fire Rescue. “We had no pulse and he was not breathing on his own,” Taylor said. “We worked on him to try and stabilize him as best we could.”…
The Picowers, according to attorneys investigating Madoff’s phony financial empire, were part of the scheme for more than 20 years. They and their daughter, Gabrielle, made more than $5 billion in fictitious profits, according to a complaint that was filed as part of federal efforts to recover money for the victims of Madoff’s scheme.
So was it another Madoff related suicide? Sounds like we’ll have to wait for the autopsy.
Madoff colleague Picower found dead at Palm Beach home - Palm Beach Post
Tags: Bernie Madoff, ponzi schemes
