MarketWatch reports:
Villehuchet, 65, was found sitting at his desk with both wrists slashed, the Associated Press said, citing NYPD spokesman Paul Browne.
A box cutter was found on the floor along with a bottle of sleeping pills on his desk, but no suicide note was found, it said.
Villehuchet co-founded Access International Advisors LLC, which specializes in managing hedged and structured-investment portfolios.
He had been trying for a week to recover at least $1.5 billion in European funds that Access International had invested through Madoff's business, The Wall Street Journal reported.
Villehuchet once worked for the capital markets division of Credit Lyonnais SA as founder, chairman and chief executive officer of Credit Lyonnais Securities (U.S.A.), it reported, citing a company statement.
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Fund manager tied to Madoff loss found dead: reports
By Wallace Witkowski
MarketWatch
Last update: 1:49 p.m. EST Dec. 23, 2008
SAN FRANCISCO (MarketWatch) -- Thierry Magon de la Villehuchet, a fund manager who reportedly lost large sums in Bernard Madoff's alleged $50 billion Ponzi scheme, was found dead in a New York office building, according to media reports Tuesday. A New York City Medical Examiner spokeswoman told Reuters that de la Villehuchet, 65, was pronounced dead at 8 am Eastern, and that the cause of death was not known. He co-founded Access International Advisors LLC, which specializes in managing hedged and structured-investment portfolios.
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Bailout Madoff!
By: Brady Willett, FallStreet.com
-- Posted Tuesday, 16 December 2008
With the financial markets already in a state of panic and the global recession expected to worsen in 2009, we can ill afford to allow the financial institutions, charities, and rich idiots that entrusted Bernard Madoff with their money to go bust. As for the widespread contention that since Mr. Madoff committed fraud he deserves to go to jail, do not think of Madoff as operating a ponzi scheme so much as a Strong Armed Perception Fund (SAP Fund), and don’t think of him as breaking the law so much breaking new ground in the arena of fictitious returns.
In short, there needs to be a new bailout effort entitled the Criminal Reprieve Assistance Program (CRAP) to provide ingenious criminals like Madoff the tools required to help kick start the faltering U.S. economy. By investing $100 billion with Madoff so that he can start-up a new and improved SAP Fund and make current clients whole, the CRAP would immediately help restore confidence in the marketplace. Concurrent with the Madoff bailout pieces of CRAP could also be used to expedite the release of jailed mortgage brokers so that they can help stabilize the collapsing U.S. housing market by doing what they do best - underwriting crappy mortgages.
What we have failed to learn time and time again is that the Madoffs’ of this world take risks that ordinary investors do not, and only when these criminals amass enough capital and clout does the average investor stand to benefit. If adopted the CRAP can effectively flush out the safety-crazed attitudes of investors now taking root and allow unlawful innovation and the temporary perception of wealth to flourish once again. It goes without saying that the only alternative if the CRAP sinks and Madoff doesn’t get bailed out is financial Armageddon, millions of jobs losses, and another Great Depression.
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