Madoff: As lawsuits commence, one hedge fund manager kills self

NBR Law

Contributor
(866) 735-1102 Ext 300

0 CommentsPrint ArticleSubscribe

The founder of an investment fund that lost approximately $1.4 billion with Bernard Madoff, and his firm, was discovered dead Tuesday after committing suicide at his Madison Avenue office.

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.

In other news, a lawsuit was filed against the SEC for losses stemming from the Madoff ponzi scheme. As attorneys look for potential defendants, one has to wonder if/when FINRA will be named in a lawsuit.

The law firm of Napoli Bern Ripka represents investors defrauded by financial advisors.