Update October 25 2009 – Jeffry Picower is dead. Jeffry Picower drowned in a swimming pool. Jeffry Picower died on Sunday October 25, 209. Jeffry Picower was found dead at the bottom of his pool.

Mrs Picower found his inert body at the bottom of their pool and pulled him out. Their housekeeper, helped in the effort. Jeffry Picower was sent to hospital and pronounced dead. Jeffry Picower was 67 when he died.

It was thought that Jeffry Picower drowned. Police are investigating his death. Mr Picower’s cause of death has not been determined. Picower had no visible injuries.

So far, no evidence has emerged to suggest that Jeffry Picower knew about Bernard Madoff illegal Ponzi scheme to defraud investors. It has been argued that Picower withdrew more money than what he invested and he should have been alerted to something suspicious in Madoff’s investment business.

June 28 2009

Jeffry Picower is a client of Bernard Madoff. Picower has been reported as having received $5.1 billion between Dec 1995 – Dec 2008. Picower and his family withdrew that amount from their investment accounts with Madoff. Madoff declared his net worth to be about $823 – $826 million.

Clearly, Picower had more money than Madoff, who started the investment scheme. Picower has maintained a low profile. The search on his alleged billions yielded nothing. Which may not be surprising as Picower is a lawyer and accountant.

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This entry was posted on Sunday, June 28th, 2009 at 3:34 pm and is filed under Gossip.