Monday, October 26, 2009

Madoff Investor Dies in Swimming Pool

A recent article in CNN mentioned that an investor of Madoff's Ponzi scheme recently died in his Florida pool. Jeffry Picower, a 67 year old investor from Florida was found dead in his swimming pool in Palm Beach.

Jeffry's Picower Foundation had announced earlier that it was shutting down because of losses from the Madoff sheme. His recent tax return valued the portfolio at $955 million. There are also allegations that Picower benefited from Madoff's secretive investment business.

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