Madoff Investor Slashes Wrists

Body Of Investment Chief Whose Fund Lost $1.4B Found At Office In Manhattan

(AP)  The founder of an investment fund that lost $1.4 billion with Bernard Madoff was discovered dead Tuesday after committing suicide at his Madison Avenue office, marking a grim turn in a scandal that has left investors around the world in financial ruin.

Rene-Thierry Magon de la Villehuchet was found sitting at his desk at about 8 a.m. with both wrists slashed, New York Police Department spokesman Paul Browne said. A box cutter was found on the floor along with a bottle of sleeping pills on his desk. No suicide note was found.

De la Villehuchet was one of several fund managers to be hit hard in Madoff's alleged $50 billion Ponzi scheme. Investment funds that lost big to Madoff are also facing backlash and investor lawsuits for not protecting their clients from the alleged fraud.

It is not immediately known what kind of scrutiny de la Villehuchet was facing over his Madoff losses through his Access International Advisors, located a couple of blocks from Rockefeller Center.

But on Monday night, he told cleaning crews in his building that he wanted them out of his office by 7 p.m. because he was going to be working late.

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A look at the people and institutions that have lost millions in the alleged Bernie Madoff Ponzi scheme.

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Workers returned Tuesday morning and found the door locked. He was later discovered dead at his desk, with a garbage can placed near his body to apparently catch the blood, Browne said.

De la Villehuchet was a prominent investor who came from a long line of aristocratic Frenchmen, with the Magon part of his name referring to one of France's most powerful families.

His fund enlisted intermediaries with links to the cream of Europe's high society to garner clients. Among them was Philippe Junot, a French businessman and friend who is the former husband of Princess Caroline of Monaco.

De la Villehuchet, the former chairman and chief executive of Credit Lyonnais Securities USA, was also known as a keen sailor who regularly participated in regattas and was a member of the New York Yacht Club.

He lived in an affluent suburb in Westchester County with his wife. They have no children. There was no answer Tuesday at the family's two-story house, which has a majestic view of a pond.

"He's irreproachable," said Bill Rapavy, who was Access International's chief operating officer before founding his own firm in 2007.

[hissteps4u]

This is a very bad thing to have happened but not worth commiting suicide over. They may not have done all the due dilligence to check this GUy out but clearly Nop one did it seems.

He has effected so many people who have lost everything Yet it is when we are down and what we do that will show our True Grit and how we deal with adversity such as this stinging loss of so much money.

I hope no one else will do this and commit suicide except perhaps Madoff who can spare us the trial and True TV Coverage of the trial as it plays out.

[tmittelstaed]

Posted by usclimey -
"...I would think that donors to charity at these levels would expect their donations to be invested sensibly, but with a view to getting a good return..."

Bzzt! WRONG. The donors to these charities expect their money to be given to the needy that need it, not socked away as investments. Charities are not gambling houses.

[generey]

I still want at least ONE of his cars.

[usclimey]

Posted by sockpuppet4

I think you''re being a little harsh here. I would think that donors to charity at these levels would expect their donations to be invested sensibly, but with a view to getting a good return. Given where money markets and bonds are these days, invested sensibly means stocks. Also note that most of the charities involved used a stock fund which then invested with Madoff without passing on the info they had all their eggs in one basket. I hardly think the chariries are at fault here

[usclimey]

It is for this reason, and many others that your assertation that this economic crises was in any way connected to "extreme liberalism" is absolutely ludicrous and laughable.

Posted by JimB621

comeon must be the author of the new bestseller "Wall Street Through the Looking Glass." Take everything he says and give it a complete political 180, you''ll find the hidden truth.

[sandy19731]

Gotta be tough to have lost "1.4 billion".

I could see loosing 1 billion or even 1.2 billion,
but loosing 1.4 billion is a different story.

Posted by rushlimpdrug at 07:30 AM : Dec 24, 2008

[neonink]

He should have slit Madoff''s wrists. That would have made more sense.

[rushlimpdrug]

Gotta be tough to have lost "1.4 billion".

I could see loosing 1 billion or even 1.2 billion,
but loosing 1.4 billion is a different story.

[chris32324]

just remember these people,the big money people,they cant handle poverty,not at all,they have no will to battle back,death is easier,cowards way out.

[ahrats]

Bernie Madoff should be charge with involentary manslaughter for this guy killing him self over the money Bernie swindled out of him. This saga will go on with other people/firms who funneled money to Bernie to steal. I hope the Madoff family has a wonderful christmas, wishing all their customers to send them more gifts. Berie should be in 8x10 cell not his apartment, I guess the rich still get perferntial treatment in the court of New York, what a joke. Berie I hope you sleep well tonight, 2009 does not look good for you or your family.

[JamesB621]

extreme liberalism promote the ideals that these greedy businessmen............... Posted by comeon11

Just how do you figure that "extreme liberalism" caused this market rupture. This was all set up by 8 years of Republican administration, 6 years of a right leaning congress, and Bush appointees who believe that financial markets need no regulation. Well, see what deregulation has gotten you? The fact is that the GOP has always favored big business over "We The People". It is for this reason, and many others that your assertation that this economic crises was in any way connected to "extreme liberalism" is absolutely ludicrous and laughable.

[evian_ycnan]

"He''s irreproachable," said Bill Rapavy, who was Access International''s chief operating officer before founding his own firm in 2007.

He is now.

[evian_ycnan]

While I harbor no ill will towards this guy, I am staggered by the stupidity of it all.

The stupidity of allowing a con artist to manage ALL of your money

Posted by clathrate at 12:05 AM : Dec 24, 2008

Generational trash from dynastic wealth... like Bush. Money is not measure of the man, and GW proves it over and over.

But what`s funny is that the people of this country will elect another Bush as soon as they can. Some 3rd plus generation of wealth born with a silver spoon in both hands and not one fvcking clue.

We need economic collaspe, ponzi schemes, and revolutions to flush a little chlorine up through the ranks. The French had the right idea.

[benissimo-2009]

Beautiful, keep them coming.

[mick7744]

Gee...does this mean Madoff won''t get a 50 billion dollar bailout...or a last minute pardon by Bush?

[wardoglrs]

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson, Letter to Treasury Secretary Albert Gallatin (1802)

[joule18]

This poor man did not kill himself because he lost he personal fortune. He did it because he was devistated that the people who trusted in him to make a good investment lost their money. He likely couldn''t face them.

[clathrate]

All over money. Money is not more important than life, although many on this lame planet believe it to be so. These guys need a conscience check or a soul check. Check something because this is just so sad, what one or many human beings are doing to others. For shame.


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Posted by mahdeealoo

While I harbor no ill will towards this guy, I am staggered by the stupidity of it all.

The stupidity of allowing a con artist to manage ALL of your money

The stupidity of valuing money over your own LIFE!

The stupidity of following the mad money lifestyle, never making time for a family (childless) or any truly worthwhile pursuits.

If there''s an afterlife, I''m sure this guy will realize the mistakes he''s made. It''s too bad it had to occur AFTER the fact.

[comeon11]

RowdynTex.............................STOP SIDING WITH YOUR IDEOLOGICAL-PARTY AFFILIATION. SIDE WITH COMMON SENSE. REGULATION IS COMMON SENSE IN ANY EFFICIENT SOCIETY. THIS IS WHY THERE IS SO MUCH CHAOS BECAUSE BOTH SIDES REFUSE TO SEE THEIR FLAWS IN IDEOLOGIES.

[safe11-2009]

Rene-Thierry Magon de la Villehuchet was found sitting at his desk at about 8 a.m. with both wrists slashed, New York Police Department spokesman Paul Browne said. A box cutter was found on the floor along with a bottle of sleeping pills on his desk. No suicide note was found.


Maybe it was murder dressed up like a suicide

The whole Madoff''s alleged $50 billion Ponzi scheme is going to lead all over the place so many people involved in assisting Madoff you''d think the paprazzi, TV news snoops and tabloids would be all over the Madoff and this story something stinks to high heaven about this $50 billion fraud case