Wednesday, December 24, 2008

Bad News at USA

One of the Fund Manager found commits suicide because of invest into Bernie Madoff's funds. He lost about US$1.4 billion. The CNBC news: -

"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.
De la Villehuchet, 65, was pronounced dead at 8 a.m. local time at a Madison Avenue building in midtown Manhattan, New York City Medical Examiner spokeswoman Ellen Borakove said. He was co-founder of money manager Access International. "
Results of an autopsy are not expected to be available until late Wednesday morning. No suicide note was found.