…according to his lawyer. Just like Seth Tobias (missed every day).
The lawyer, William Zabel, said in a statement that an autopsy showed Mr. Picower, 67 years old, drowned in his pool because of the heart attack. A spokeswoman said Mr. Picower suffered from Parkinson’s disease, a neurological disorder that affects motor skills, as well as unspecified heart-related problems.
Mr. Picower, a billionaire, was one of several high-profile Madoff investors initially viewed as victims of Mr. Madoff’s fraud who was later revealed to be among the biggest beneficiaries of it, having booked billions of dollars in profits. Federal prosecutors at the U.S. attorney’s office in Manhattan are looking into whether Mr. Picower or several other longtime Madoff associates had knowledge of or complicity in the fraud, people familiar with the matter have said. Mr. Picower hadn’t been charged with wrongdoing and had denied having any knowledge of fraud. Mr. Picower and his wife, Barbara, made $7.2 billion in profits from investing with Mr. Madoff since the 1970s, according to court documents filed by a court-appointed trustee who is recovering assets for victims of the fraud.
Picower Drowning Death Caused By Heart Attack, Lawyer Says [WSJ]
yeah seth t, too, right?
drowned from a heart attack? riight…
Well, that and the $7 billion in coin they found in the lining of his swim trunks.
And yes, I still can’t comment.
Tobias!
-Chick who’s way too hot to be playing for the other team. Damn you Ellen, damn you.
There was $7 billion lining the walls of the banana stand!
-George Sr.
This time, I swear I had nothing to do with it.
- Tiger
Seth Tobias was a fascinating man.
http://assets.nydailynews.com/img/2007/12/08/alg_tiger2.jpg
Tiger!
Did he insure said banana stand?
Where’s Columbo when we need him?
William Zabel was the lawyer for the Picower foundation.
Not a heart attack. Complete and utter back muscle failure. Told him that it was a friggin tough lat workout, but he didn’t heed my warnings.
-CG
@11 what’s your point?
@13: This was my point (From The Daily Beast)
Now investigators may want to question Picower’s lawyer, Princeton and Harvard Law graduate William D. Zabel, of Schulte, Roth & Zabel. A prominent New York wills, trusts and estate lawyer, Zabel has represented Jeffry & Barbara Picower and their foundations for at least two decades. On Sunday, Zabel told several news organizations Picower was in poor health, suffering from Parkinson’s disease and “heart-related problems.”
With Jeffry Picower gone, the inquiries will focus on how and why trusts, corporate entities and other legal instruments were used by Picower to move money. Should the bankruptcy trustee win a court ruling that he is entitled to recover money from Picower, the money hunt will be on in full force and Zabel could become a witness.
Courtesy of Allan Dodds Frank “Then the question comes, where is it?” Says the investigator. “If it turns out it moved around, he set up this trust, he set up that trust. The money went to 17 different countries. Who set up the trusts? Who coordinated the movements?”
Zabel also told various news organizations that there has been progress in settlement negotiations with the bankruptcy trustee. Zabel did not return the calls from The Daily Beast so we could not confirm that the trustee’s representative viewed Picower’s initial settlement office as so low that it would not be seriously considered.
http://www.kenlayisalive.org/
Re Zabel – His son, Richard, was recently appointed as head of the criminal division at USA-SDNY but he had to recuse himself from the Madoff investigation.
Main Justice has a good story about the problem today.
Re Zabel – His son, Richard, was recently appointed as head of the criminal division at USA-SDNY but he had to recuse himself from the Madoff investigation.
Main Justice has a good story about the problem today.
@6,8 – I’d hi that!
We don’t need Columbo, we need Dominick Dunne.
Do ask for who the bell tolls…it tolls for anyone who made made money and knew Madoff was a shitbag.
Bess,
You still talk with Billy Ash?
-Lookin’ for a Pimp
when can i buy this guys car?
Russian mob hit…. he was the feeder fund for them.
007
Good career move!
@19 “Panic in Needle Park” was a great movie.
I think this Picower dude got “Gaslighted”
TGFD imagines that the $7.2 Billion will ultimately be deemed unrelated to the Madoff fraud, and therefore excluded from any investors claims, just like the $2 Million that Ruth got to keep.
That is, if the turd lawyer Zabel has an opportunity to explain the money. I’m sure he’ll be able to clear the whole thing up forthwith. Just give him a chance.
The Guy from Delaware
@20 tru dat. I got contacts.
-cg
Picower once funded that sleazy Russian dude in the James Stewart novel about Milken …
he enjoyed him the flesh of the young ladies, he did …