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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Fund Manager Tied to Madoff Case Found Dead

Multiple news outlets in New York are reporting that a hedge fund manager who reportedly invested heavily with Bernard Madoff was found dead this morning in his Manhattan office.

Thierry Magon de la Villehuchet, 65, was pronounced dead at 8 a.m., according to a Reuters report that cited New York City Medical Examiner spokeswoman Ellen Borakove. The cause of death is not known yet.

He was co-founder of Access International.

Prosecutors have alleged Madoff engaged in a $50 billion Ponzi scheme.

UPDATE, 1:56 p.m.: The New York City Medical Examiner's office confirmed De la Villehuchet was pronounced dead at 8 a.m. by paramedics at an office building on Madison Avenue. Cause of death is not yet known. His body will be examined by the medical examiner tomorrow.

De la Villehuchet's fund reportedly invested $1.4 billion with Madoff.

-- Michael S. Rosenwald

By Michael S. Rosenwald  |  December 23, 2008; 1:25 PM ET
Categories:  The Ticker  
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wonderful. remember.. the great depression started with one suicide.

Posted by: DriveByPoster | December 23, 2008 3:49 PM | Report abuse

While the great depression may have started with one suicide, this death is particularly tragic given the circumstances. May Mr. Madoff take this to his grave. He should be indicted for involuntary manslaughter. What a despicable man.

Posted by: JoeBraz | December 23, 2008 4:00 PM | Report abuse

Now there's a man with honour! Why can't more of the criminals at the top kill themselves? I'm not just talking about Madoff, but Mozillo, and Blagojevich, and Duke Cunningham plus all the crooked Republican Congressmen, along with Bush/Cheney/Rumsfeld/Feith/Perle et. al... If only the scum who got the U.S. into the parlous position it's in would just put bullets into their heads, the country might have a chance. But noooooo, they have to kill everyone there while they stay alive.

Posted by: Bukkonen | December 23, 2008 4:46 PM | Report abuse

I am sorry that this father and husband was so desperate, and so without hope, that he saw self-harm as a legitimate option.

But I am also encouraged that he at least had the decency to be ashamed that he had let friends, associates and family down.

The lack of shame, more than anything else, is what permits the "Masters of the Universe" to abuse trust and responsibility for personal gain.
The lack of shame in government and high finance is pandemic. I don't see a solution. But I do see how we can protect ourselves from its consequences.

Posted by: BrianX9 | December 23, 2008 5:10 PM | Report abuse

People, calm your rage and turn on your sympathy. This guy killed himself because he was a victim, not a criminal.

Madoff should be ashamed. Not this guy.

Posted by: jamesdg | December 23, 2008 5:51 PM | Report abuse

Brian is right. This guy was a victim. CNBC website says Madoff approached him.

"According to a source familiar with the situation, de la Villehuchet was asked by Madoff to set up Access to market the Madoff funds to the Bettencourts—who owe their fortune largely to the L'Oreal cosmetics company—and to their society friends.
....De la Villehuchet also had invested his personal money in the fund."

So Madoff was after Bettencourt family fortune and this guy got suckered in and when he realized he was taken for a ride, he felt bad for losing the Bettencourt fortune.

I wonder why Madoff didn't go after the Lauder fortune.

Posted by: dogsbestfriend | December 23, 2008 6:45 PM | Report abuse

Only one of the 3 million top 1% in our country, who now control 1/2 the wealth, apparently has a conscience.

The rest are executing year end tax savings and collecting their "bonuses."

While lots of the bottom 297 million are cutting back on their kid's Christmas and wondering how they'll ever retire or send the kids to college. Or shivering with no heat and eating at a shelter.

The rich of America are vermin.

Posted by: theeasypartsover | December 23, 2008 6:57 PM | Report abuse

The investigation is not complete, so it could be a suicide, natural death, or a murder. What needs to come out of this is that all money needs to be stripped from the Madoff clan. The Jewish-American mindset among the Madoff types justifies stealing money as long as the children and grandchildren benefit, as well as some Zionist charities benefit This needs to be stopped.

Posted by: AD11 | December 23, 2008 8:00 PM | Report abuse

Also, does anybody with a sensible mind really believe Madoff's two sons (as well anybody close to him) believe that they didn't realize what their father was doing? I think it was a ploy to protect the Madoff family fortune by portraying the sons as the hero's who turned in their father. But I guarantee you that the Department of Justice will fail us (again) and not do a thorough investigation of the entire scam.

Posted by: AD11 | December 23, 2008 8:04 PM | Report abuse

Nice to hear from the Aryan Nation spokesperson.

Go back to torturing small animals now, Adolf.

Posted by: stivgdgy | December 23, 2008 8:27 PM | Report abuse

Jewish Mobster hit. Anyone who doesn't think there is a Jewish mob has no experience with the result of the mass immigration from Russia.

Posted by: kinoworks | December 23, 2008 9:53 PM | Report abuse

Jewish mob hit. Won't be the last in this mess either. Just hide and watch.

Posted by: PercyKution | December 23, 2008 10:03 PM | Report abuse

Typically French behavior, take the easy way out. Same thing seen with the French Army Colonel who led his men into Dien Bien Phu. Rather than do the hard thing of caring for dying his men and trying to lead them through a disaster and later owning up to responsibility for his screw up, including public criticism and disdain, this "man" chose suicide.
The French will probably erect one more memorial in Paris to a failed leader and call it a tribute to those who perished in the American financial wars.

Posted by: bgreen2224 | December 24, 2008 9:02 AM | Report abuse

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