Madoff Associate Found Dead in Swimming Pool

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Photo: Courtesy The New York Times

Jeffry Picower, a Florida businessman, philanthropist, and former Bernie Madoff associate, was found dead today in a swimming pool at his Palm Beach mansion. The 67-year-old, who's been accused of raking in nearly $7 billion as a part of Madoff's skulduggery, was found at the bottom of the pool by his wife. Police are investigating the cause of death.

Though they've denied knowledge of the Ponzi scheme since it was uncovered, the Picowers have been sued in an attempt to recoup the almost $7 billion they withdrew from their account with Madoff over the years. Perhaps ironically, Picower and his wife were behind the Picower Institute for Learning and Memory at MIT and the Picower Foundation, which supports education, medical research, and human-rights causes.

Investor With Madoff Is Found Dead in His Pool [NYT]
Madoff associate Picower found dead [AFP]