Yes, we do have our fun sometimes, poking jests (some kind and some unkind) at the personalities that make up the modern world of finance. But it gives us no pleasure to relate this particular story of apparent suicide.
Rene-Thierry Magon de la Villehuchet, a founder of the hedge fund Access International Advisors, was found dead early Tuesday in his office in Manhattan, the French business daily La Tribune reported on its Web site, after losing as much as $1.4 billion that had been invested with Bernard L. Madoff, the money manager accused of running a $50 billion Ponzi scheme. Mr. de la Villehuchet, 65, committed suicide, La Tribune said, citing a someone close to Mr. de la Villehuchet.
True, it could not have been anything other than a failure of due diligence and an abysmal lack of diversification that permitted Made-off to do such damage to some investors, but you never want to see this sort of thing.
And here is where the really sinister part of the entire Made-off affair begins to show. The devastating psychological impact of being a victim of such a fraud, probably knowing that you should have known better all along, can be quite a bit to bear. To the French, such indiscretion in the service of greed, no doubt, is far less tolerable than it might be here.
Head of Fund Invested in Madoff Said to Commit Suicide [Dealbook]