Madoff Pal Picower Found Dead, Was Accused of Making Billions in Scheme
Jeffry Picower, accused of raking in billions from pal Bernie Madoff's Ponzi scheme, was found dead in the bottom of his Palm Beach swimming pool today.
The 67-year-old goniff and philanthropist got more than $2.4 billion from the fraud in just the past six years, according to court documents. Far from being a victim, authorities say, Picower "earned" up to 950 percent a year — not a bad return on Madoff's zero investments. (See the May 12 complaint.)
When he wasn't doing buyout deals, Picower did a lot of good with some of the gelt, through his foundation, which now is supposedly broke. It wasn't immediately known whether Picower's death was an accident, suicide, murder, or just bad karma. He was said to have been suffering from Parkinson's and other maladies.