Madoff Associate Jeffry Picower Found Dead at 67, Palm Beach Police Say

[marmar]

Jeffry Picower, Madoff Investor, Found Dead at Home (Update3)
By David Voreacos, Jeran Wittenstein, and Cordell Eddings


Oct. 25 (Bloomberg) -- Jeffry Picower, the philanthropist alleged to have withdrawn more than $7.2 billion from Bernard Madoff’s investment company, was found dead today at his home in Palm Beach, Florida, according to police. He was 67.

Picower’s wife Barbara told dispatchers at 12:09 local time that she had “just found her husband at the bottom of their swimming pool” at their oceanfront estate, police said. He was taken to Good Samaritan Hospital, where he was pronounced dead about 80 minutes later, the police said.

“As standard operating procedure in any drowning, the Palm Beach Police Department is conducting an investigation into Mr. Picower’s death,” police said in a statement.

Picower benefited more from Madoff’s $65 billion Ponzi scheme than any other investor, according to Irving Picard, the lawyer liquidating Madoff’s investment business. Picard sued Picower, his foundation and related entities, claiming they withdrew more than $7.2 billion over 20 years, including more than $5 billion in fake profits. .........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aKIjhKc_.SG4

[AllentownJake]

1. I wonder who paid to have him whacked

Probably should have stuck to the typical Wall Street game of ripping off the poor and middle class. Ripping of the rich comes with dangers.

[Canuckistanian]

3. Yeah, right. The Palm Beach mafiosi

The only "hits" they engineer are hostile takeovers. Murder is such a messy business.

Better to hound the "mark" in court until he offs himself.

It's the Palm Beach way.

[AllentownJake]

5. Might be one of his own

There is a law suit and preventing him from testifying in it or undergoing cross examination is a pretty tempting motive if your family has a few billion.

[joeunderdog]

6. Don't bet on it. There are very dangerous people with a lot to lose if he talked in court.

Markopoulos who originally tried to rat out Madoff to the SEC said that when there's this much cash on the line, you can bet that people like the those in the Russian Mafia are involved. That's why he only spoke anonymously until recently. He feared for his life.

More will die before this is over.

[Canuckistanian]

8. Russian Mafia?

Got a link for that?

[joeunderdog]

11. You Tube has the full testimony in front of Congress. It's worth watching all of it.

Markopoulos talks about the Russian Mafia and other major players who had to be involved in a game this size. Makes you believe that we will only ever know a fraction of the story because no one will dare tell what they know. Bernie didn't even try--decided he'd rather live in jail than die in the community. There is suspicion of 2 foreign hedge fund leaders are missing or dead because of their connections.

Can't wait for the book.

[Canuckistanian]

12. OK, thanks

I'll look it up. I was just surprised to hear about Russian thugs in Palm Beach.

[Berry Cool]

2. Yeah, one gets the feeling he "sleeps wi' da fishes." n/t

[Ruby the Liberal]

4. So now his heirs are protected from the clawback suit

...and the band plays on

[earth mom]

7. Interesting how people who "know something" always end up dead.

:yoiks:

[KoKo]

9. Thanks for this post. There have been a number of Financial Big Wigs..dropping off

from either "stress deaths" or suspicious circumstances for awhile now. I saw this but figured DU'ers didn't care anymore. Still I bookmark each death...figuring one day someone will make a story out of them.

[monmouth]

10. Local news says he had a history of heart problems and parkinsons....n/t