{"id":69960,"date":"2017-03-29T07:02:20","date_gmt":"2017-03-29T11:02:20","guid":{"rendered":"https:\/\/stateofthenation2012.com\/?p=69960"},"modified":"2017-03-29T07:04:29","modified_gmt":"2017-03-29T11:04:29","slug":"investor-burned-by-madoff-leaps-to-death-from-luxury-hotel-balcony","status":"publish","type":"post","link":"https:\/\/stateofthenation2012.com\/?p=69960","title":{"rendered":"Investor burned by Madoff leaps to death from luxury hotel balcony"},"content":{"rendered":"

By Shawn Cohen, Erik Blades and Joe Tacopino
\nNew York Post<\/p>\n

\"InvestorTamara Beckwith<\/picture><\/h5>\n

A hedge-fund executive who lost millions in Bernie Madoff\u2019s infamous Ponzi scheme jumped to his death from the luxury Sofitel New York Hotel on Monday afternoon, authorities said.<\/p>\n

Charles Murphy, 56, whose fund at Fairfield Greenwich invested more than $7 billion with Madoff, leaped from a room he had rented on the 24th floor around 4:42 p.m. and landed on a fourth-floor terrace, according to police sources.<\/p>\n

The financier was at the helm of the prestigious hedge fund when the firm poured billions into Madoff\u2019s coffers.<\/p>\n

\"\"

Charles Murphy (Photo: Patrick McMullan)<\/p><\/div>\n

Fairfield lost nearly $50 million when Madoff\u2019s scam imploded, according to the Wall Street Journal (paywall).<\/a>
\nThe investors filed a class-action lawsuit and the company agreed to be part of an $80 million settlement.<\/p>\n

Murphy owned a multimillion-dollar limestone townhouse in the heart of Lenox Hill with eight bedrooms, 11 fireplaces and two elliptical staircases, according to The Real Deal.<\/a><\/p>\n

Murphy purchased the building on East 67th Street from Seagram heir Matthew Bronfman for $33 million in 2007. The house was previously owned by The Foundation for Depression and Manic Depression.<\/p>\n

A person who answered the door Monday night said the family was grieving.<\/p>\n

A parking attendant at a nearby garage said Murphy\u2019s wife, Annabella Murphy, crashed their Honda Odyssey last summer but could not afford to fix it.<\/p>\n

\u201cShe didn\u2019t even have enough money to pay for the damage,\u201d the attendant said.<\/p>\n

Murphy had been serving as a partner with the investment management firm Paulson & Co.<\/p>\n

The head of the fund, John Paulson, released a statement Monday night calling Murphy \u201ca brilliant man, a great partner and a true friend.\u201d<\/p>\n

<\/div>\n

The incident was reported at 4:42 p.m., when witnesses said the man jumped off a balcony.<\/p>\n

The impact of the landing shattered concrete tiles, and he could be seen lying in a business suit.
\nThe tragedy was the third high-profile suicide connected to the Madoff Ponzi scheme.<\/p>\n

Madoff\u2019s eldest son, Mark, was found hanged in his Soho apartment in December 2010 \u2014 the second anniversary of his father\u2019s arrest.<\/p>\n

Two investors also killed themselves. William Foxton, a 65-year-old former Army major, committed suicide in 2009 due to the shame of going bankrupt.<\/p>\n

Rene Thierry Magon De La Villehuchet, a French aristocrat, whose AIA Group had lost $1.5 billion, was found dead shortly after the scandal broke in 2008.<\/p>\n

___
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