Madoff Billionaire Found Dead in Palm Beach Swimming Pool

ABC ^

[Chet 99]

Oct. 25, 2009—

The man who made $7 billion in the Bernie Madoff Ponzi scheme, Jeffry Picower, was found dead in his Palm Beach, Fla., swimming pool Sunday.

The Palm Beach Fire Department told ABC News that Picower had no pulse when fire rescue workers arrived at his oceanfront mansion after his wife called 911. She and his housekeeper pulled his body from the pool shortly after noon.

No one benefited more from the Madoff scheme that Picower, according to bankruptcy lawyers who sued him and alleged he had taken out $7 billion more than he had put in.

Click here to go behind the scenes of Brian Ross' investigation into Bernie and Ruth Madoff.

Investigators told ABC News.com that Picower would also have likely faced criminal charges.

Some investigators considered Picower to have been the actual mastermind of Madoff's massive con, or at least an equal "partner in crime."

"He made 30 times what Madoff did from the scam and about a third of the missing money went to Picower," said one of the investigators on the case Sunday.

Police said they did not yet know the cause of death.

[anymouse]

Looks like Mr. Picower was in over his head.

[mowowie]

lol

[BenLurkin]

Autopsy set for Madoff associate dead in Fla. pool

On 12:17 pm EDT, Monday October 26, 2009

WEST PALM BEACH, Fla. (AP) — An autopsy is planned for a man accused of making more than $7 billion off the investment schemes of jailed financial manager Bernard Madoff.

Jeffry Picower was found by his wife Sunday at the bottom of a pool at the couple’s sprawling oceanside Palm Beach mansion. He died a short time later at a nearby hospital.

The 67-year-old was No. 371 on the Forbes 400 list of the wealthiest Americans, with a net worth of $1 billion.

Police are investigating the death as a drowning, but haven’t ruled anything out. Palm Beach County authorities planned an autopsy Monday.