Sunday, October 25, 2009

Billionaire Madoff Investor Found Dead

New York Times is reporting that Jeffry Picower, a prominent philanthropist and one of the largest investors in the vast Ponzi scheme run by Bernard L. Madoff, was found dead in the pool at his Palm Beach, Fla., home on Sunday afternoon. Detectives remain on the scene. Mr Picower had a history of serious health issues. He also was in serious discussions with the trustee who is trying to recover Madoff money. Mr Picower supposedly took out $6 billion more than he put into Madoff investments.