[Marxism] Madoff victim slits wrists

Louis Proyect lnp3 at panix.com
Tue Dec 23 14:31:10 MST 2008


(Can Mort Zuckerman be far behind?)

http://dealbook.blogs.nytimes.com/2008/12/23/head-of-fund-invested-in-madoff-said-to-commit-suicide/index.html
Head of Fund Invested in Madoff Is Found Dead
December 23, 2008, 12:28 pm

Updated 4:05 p.m.

Rene-Thierry Magon de la Villehuchet, a founder of the hedge fund Access 
International Advisors, was found dead Tuesday in his office in 
Manhattan. His fund reportedly lost 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.

A spokeswoman for the New York City Medical Examiner confirmed to 
Reuters that Mr. de la Villehuchet was pronounced dead Tuesday morning 
at a Madison Avenue building.

Authorities told DealBook that Mr. de la Villehuchet was found in his 
office with injuries to his arms, having apparently slit his wrists.

Mr. de la Villehuchet, 65, had been trying to recover the money that 
Access International raised in Europe and invested through Mr. Madoff’s 
business, according to La Tribune, which first reported the news, citing 
an unnamed source.

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.

UBS had been the custodian and administrator of the fund until this year 
when Access International took over. No one answered the phone at Access 
International’s New York office. No one responded to a phone call to Mr. 
de la Villehuchet’s home.

UBS has stated that Mr. Madoff was not on the bank’s wealth management 
recommended list as a direct investment option but it produced and sold 
funds containing the investment manager’s products. UBS would establish 
fund of funds structures at clients’ requests.

By early afternoon, a small scrum of reporters and photographers had 
gathered in front of the narrow entrance to Access International’s 
office on Madison Avenue in midtown Manhattan, only a few blocks away 
from Rockefeller Center.

–Zachery Kouwe, Michael Wilson and Michael J. de la Merced




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