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SUNDAY, NOVEMBER 22, 2009
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15

Madoff Colleague Found Dead in Swimming Pool

Jeffry Picower faced Ponzi scheme lawsuit

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(Newser) – Philanthropist Jeffry Picower, who allegedly reaped billions of dollars from longtime friend Bernard Madoff's Ponzi schemes, was found dead today at the bottom of his Florida swimming pool. Efforts to revive him failed, and his death was ruled a drowning, police said. Picower, 67, wife Barbara, and their foundation were among the defendants in a lawsuit brought by the trustee liquidating Madoff's assets, the Palm Beach Post reports.

Barbara and Jeffry Picower
Barbara and Jeffry Picower   (Lucien Capehart/Massachusetts Institute of Technology)
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15 comments
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Lula
Oct 25, 09 4:41 PM CDT
So sad LOL Reply
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Netstorm2k9
Oct 25, 09 4:48 PM CDT
Someone clearly didn't want him talking. Reply
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youngblood
Oct 25, 09 5:07 PM CDT
This whole Madoff ponzi scheme has lots of dirty laundry to be uncovered yet. Do you think that it was a mob hit and or someone didn't want this guytalking?! Reply
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Deebles
Oct 25, 09 9:37 PM CDT
This is a canary that won't be singing. MOB HIT. I'm glad that my fellow Newsers are starting to use mob and Madoff in the same sentence, because he was a money launderer. The problem with the hundreds of billions of dollars that the underworld economy generates is that unless they can clean it up and give it a name for the IRS, it might as well be blank paper. Madoff took dirty money and paid it out as interest on investments and the guy with no source for the income coughed up a 50 to 80 cent hit on every dollar, so they could get get something. So, the mob makes an illegal dollar and walks away with fifty cents they can use. See how that works? Picower went bankrupt a few years ago, and had not a pot or piss until he hooked up with Bernie. Then he had billions to fund every kind of thing for the tax thing. Shapiro was the feeder and Picower was the spin cycle. The odd part is that Picower and his Neuroscience Institute that he funded at MIT with dollars from bookies, and scams, discovered many valuable things--like why he did what he did. And there are three mobs--the New York Lucianna thing with the five families, Chicago--the Outfit--started by Capone but nationalized by his driver who went on to start General Dynamics and his lawyer who went on to leaving his heirs the billions that put them in the first twenty or so on the billionaire lis. That money is so clean now that it elected Obama. Well, it's clean, but that genetic greed thing doesn't wash out--and New Orleans. started by Carlos Marcello and a big helping hand from Frank Costello when Laguardia threw the slots out of New York--they went south. Too bad that Carlos owned all the wet side of New Orleans and decided to build those leveys--mob concrete is notoriously poor quality. Ask Boston.
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muleskinner
Oct 25, 09 5:18 PM CDT
death by drowning, with 10 gun shots in him? Reply
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