The Delaware Memorial Bridge.
Very very sad. Like he didn't know what he was doing in the sub-prime lending fraud game????
I suppose we will see more of this to come as peoples’ financial worlds crumble. Very sad.
Hmmm ... might the words, "honey, you aren't rich anymore and I'm leaving" have preceeded the whole thing?
The Delaware Memorial Bridge.
If your only motivation in lfe is money, you’re in trouble when the money is gone.
Then it all slipped away.
Over the past few years, the federal government filed several tax liens against Buczynski, an executive vice president at Fieldstone Mortgage Co.
By 2006, he owed more than $656,000 in back taxes.
Fieldstone went bankrupt last November in light of the subprime lending collapse and laid off most of its employees.
Earlier this week, the company requested in court to pay $1.1 million in bonuses to the few remaining staffers and executives, including Buczynski.
But Buczynski didn't stick around for the payout.
Instead, he wrote a horrifying conclusion to a modern tale of corporate excess and failure.
Police said Buczynski, 59, murdered his wife, Marci, 37, in their Marlton, N.J., home yesterday and then jumped to his death off the Delaware Memorial Bridge.
Authorities have yet to determine exactly how Buczynski killed his wife, who was found by police in her bedroom.
Investigators were searching the Delaware River for Buczynski's body last night.
The couple left behind two sons, ages 14 and 8, authorities said. Neither was at home, on Atlanta Drive near Topeka Court, when their mother was killed.
Burlington County Prosecutor Robert D. Bernardi said in a statement last night that Evesham Township police received a phone call at noon yesterday from an unidentified man asking them to "check on the well-being" of Marci Buczynski.
Investigators believe the call was made by Walter Buczynski, who was seen about 20 minutes later getting out of a blue Acura SUV on the Delaware Memorial Bridge and then taking a fatal plunge.
The Delaware River and Bay Authority Police Department is in charge of trying to recover Buczynski's body.
Buczynski's neighbors were stunned and refused to comment at length.
"All I can say is that it's a tragic situation for our neighborhood," said one man, who declined to be identified.
Buczynski joined Fieldstone in 2000, five years after the company was started. He had plenty of industry experience.
He had previously served as a senior vice president at GE Capital Mortgage Services Inc., and as an executive vice president at Secondary for Margaretten & Co., now known as Chase Manhattan Mortgage Corp., according to Fieldstone's Web site.
Fieldstone specialized in providing residential "non-conforming" mortgage loans to people with poor credit histories.
By 2006, the company, based in Columbia, Md., was a total success, with more than $5.5 billion in assets and more than 1,000 employees.
Buczynski, according to Internet records, made more than $583,000 a year.
But rising interest rates and mortgage delinquencies caused the subprime mortgage-lending industry collapse last fall, and by November, Fieldstone executives agreed to file for bankruptcy.
The company laid off almost all of its employees, and claimed to have a staff of less than 20 people earlier this week, according to published reports.
Fieldstone filed papers in U.S. Bankruptcy Court in Maryland on Thursday requesting to pay $1.1 million in bonuses to its remaining staffers, including Buczynski, who stood to receive $99,999, according to reports.
Fieldstone president Michael Sonnefeld could not be reached for comment. *
He was probably feeling depressed and was stupid enough to see a shrink who naturally put him on anti-depressants. We’ve seen this so many times now. I’d bet that was the case.
In the last 2 years there's been a big push on The Hill and the FTC, SEC for more transparency in corporations to prevent these scenario's and their corresponding results.
Our government, economic think tanks, financial CEO's and university professors, all saw this coming. That's why there was a push for transparency in accounting and company subsidiary relations started 2 years ago.
I had a private talk with my company's CFO 8 months ago about this very same topic. He gave me a heads up then on what was about to hit the fan. Our company (a small international subsidiary) averages $200-$250 mil annually in total business. My CFO's concern about it all was going to be the upcoming credit crunch and major slowdown in the economy.
This was a man who clearly did not care about the consequences of his actions, both in life and in death. There were and are consequences, however. It’s very sad, how deluded mankind can sometimes be.
Have never understood the go broke/commit suicide thing. So you’re broke. Liquidate, take bankruptcy, rent an apartment, get a job, live a life. You will still have more than 99% of all humans that have ever lived on earth.
Talk about selfishness...tying up traffic like that for hours.