Head of Fund Invested in Madoff Is Found Dead

[santafe2]

Re: Head of Fund Invested in Madoff Is Found Dead

Rene-Thierry Magon de la Villehuchet, a founder of the hedge fund Access International Advisors, was found dead Tuesday in his office in Manhattan. His fund reportedly lost 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.

I've worked in the business world for over 20 years and every good business person can spot an opportunistic broker. They're short on knowledge and long on attitude. It appears there were a lot of them working the inside track with the Madoff scam. The conversation always starts off like this; "I've got this guy...genius...I can get you in." I've heard this pitch so many times I can spot it in the first 5 seconds.

We regularly weed out brokers in our business. Those people without their own money, without the required business structure to accomplish the deal and without real connections. They attempt to insert themselves in a deal simply because they've got a copy of the RFQ and their friend knows someone who knows the decision maker.

This guy could probably sell his ass off but hadn't had a good investing idea in years so he simply brokered his investors money to Madoff. There are a lot of charades being reveled and many more to come.