Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Madoff Colleague Found Dead in Swimming Pool

Jeffry Picower faced Ponzi scheme lawsuit

By M. Morris,  Newser Staff

Posted Oct 25, 2009 4:07 PM CDT
Email

(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)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Showing 3 of 14 comments
So_Cal_Larry
Oct 27, 2009 1:31 AM CDT
I don't believe that Mr. Picower died a natural death by heart attack. Neither do I believe that Ken Lay of Enron died a natural death by heart attack. I'm sure there is something out there to induce a heart attach and death, but difficult to find in the blood stream. Ken Lay's death let his family keep all their ill-gotten gains from the Enron fraud. I suspect that Mr. Picower's death will also insulate much of his wealth from seizure by government. What's worse, it was recently shown that Mr. Picower was permitted to carry a negative balance (over drawn) at the Madoff firm of more than $5-billion. Yes - that's with a 'b'. There's more here than meets the eye or ear. Believe half of what you see, and none of what you hear.
Observer
Oct 26, 2009 12:55 PM CDT
Accidently ran into the Mossad and they can't let such a person talk about their involvement. Madoff could not have moved that much cash around so long without really bad guys helping.
cementhead
Oct 26, 2009 12:36 PM CDT
The whole Madoff deal is not even close to over. If he was willing to become such a scoundrel on one level, there's no way he'd back away from money laundering or drugs or whatever else turned a buck. The only way the investigation won't get wild, is if they uncover prominent people involved. Of course if that happens, information will get scarce all of a sudden. Bernard Madoff is truly an evil piece of garbage, who should be swinging from a rope, not eating pizza in the slammer.

 
philanthropy • fraud • lawsuit • Ponzi scheme • Bernard Madoff • Bernard L. Madoff Investment Securities • Jeffry Picower • Picower Foundation • Barbara Picower

More Newser Stories

Madoff Is Wall Street's Hot New Investment

Lawsuit Accuses Marshals of Dirty Madoff Loot Sale

Judge Yanks Bail for Madoff Secretary

Late Madoff Investor to Return $7.2B to Victims

Mark Madoff's Suicide Tightens Screws on Brother
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne