http://www.marketwatch.co(...)A-BDEB-6051A14CE882}quote:Fund manager tied to Madoff loss found dead
By Wallace Witkowski
Last update: 1:49 p.m. EST Dec. 23, 2008
SAN FRANCISCO -- Thierry Magon de la Villehuchet, a fund manager who reportedly lost large sums in Bernard Madoff's alleged $50 billion Ponzi scheme, was found dead in a New York office building, according to media reports Tuesday. A New York City Medical Examiner spokeswoman told Reuters that de la Villehuchet, 65, was pronounced dead at 8 am Eastern, and that the cause of death was not known. He co-founded Access International Advisors LLC, which specializes in managing hedged and structured-investment portfolios.
Fraude. Maar ja- indirect is de crisis de oorzaak dat de pyramide in elkaar is gestort, dus beide ook wel weer, maar dus voornamelijk dat ie zijn geld kwijt is (hartaanval of zelfmoord).quote:Op dinsdag 23 december 2008 20:31 schreef marcb1974 het volgende:
Komt dit door de crisis of door fraude?
quote:De la Villehuchet, 65, was a co-founder and chief executive officer of Access International Advisors, according to a marketing document. Access, based in New York, invested $1.4 billion with Madoff, who was arrested on Dec. 11 for allegedly running a $50 billion Ponzi scheme.
quote:Zelfmoord Fransman na fraude Madoff
24 december 2008, 8:05 | BNR.nl
De Madoff-affaire heeft een leven geeist. Een Franse vermogensbeheerder die voor anderhalf miljard euro het schip in gegaan is, heeft zelfmoord gepleegd. Franse media melden dat.
De gedupeerde Fransman, Thierry de la Villehuchet (65), zou er de laatste dagen alles aan hebben gedaan om het verloren geld voor z'n klanten terug te krijgen. Volgens de Franse krant La Tribune probeerde De la Villehuchet onder meer door juridische procedures tegen Amerikaanse autoriteiten. Maar volgens een zakenpartner kon hij ,,de jacht op boosdoeners, die de Europeanen hadden gelanceerd'' niet aan, citeerde de krant hem.
Vermogensbeheerder De la Villehuchet was mede-oprichter van Access International, een bedrijf dat beleggers op de Europese markt overhaalde om met Madoff in zee te gaan. Villehuchet beheerde in totaal ruim 2 miljard euro.
In hoeverre De la Villehuchet aansprakelijk kon worden gesteld voor de verliezen die zijn firma Access International door de malversaties van Madoff heeft geleden was niet bekend. "Er valt hem niets te verwijten", zei Bill Rapavy, een oud-medewerker.
quote:HSBC banker found hanged in hotel
A top HSBC banker has been found hanged in the room of a five-star hotel, police said.
Scotland Yard said there were no suspicious circumstances surrounding the death of Danish-born Christen Schnor, 49, who was found at around 2.40pm on Wednesday at the Jumeirah Carlton Tower Hotel in Knightsbridge, west London.
The Mail on Sunday reported Mr Schnor, who leaves a wife and two children, was found hanging by a belt, naked in a closet in his room.
A spokesman for HSBC said: "Our thoughts are with his family and we will do all we can to help them at this difficult time."
Mr Schnor studied at Henley Management College and graduated in 1994.
He joined HSBC in June 2007 when he was appointed head of insurance with responsibilities for Europe and the Middle East.
A Metropolitan Police spokesman said it had been called to reports of a man found hanging, adding: "The 49-year-old man was pronounced dead at the scene.
"A post mortem will take place in due course. His death is being treated as non-suspicious."
quote:Kredietcrisis druppel voor verslavings- gevoeligen
Managers aan drank of coke
DELFT - Managers en directeuren grijpen massaal naar de fles om weerstand te bieden aan de steeds grotere druk die ontstaat door de kredietcrisis.
Met name leidinggevenden uit de bancaire sector en beurshandelaren komen steeds meer in de problemen door drank of te veel lijntjes cocaïne. Privékliniek 'Ready for Change', gespecialiseerd in verslavingszorg voor managers, directeuren en vrije beroepsbeoefenaars (o.a. advocaten, accountants), meldt een opvallende toeloop van cliënten uit de financiële sector. Volgens de laatste cijfers van het ministerie van Sociale Zaken drinkt één op de vijf topmanagers nu excessief en heeft één op de twintig een verslavingsprobleem. "Met de huidige financiële crisis staan mensen in het zakenleven onder een steeds grotere druk", aldus Patricia Zegwaard, mededirecteur van de privékliniek.
Illusie
"Verslavingsgevoeligen grijpen daardoor steeds vaker naar de fles of naar cocaïne. Door faillissementen, gedwongen ontslagen of grote beursverliezen bereikt deze groep op dit moment in groten getale hun absolute 'bodem'. Zonder geld en succes is de schijn vaak niet langer hoog te houden en valt de illusie, die een verslaafde voor zichzelf heeft gecreëerd, als een kaartenhuis in elkaar. Als het taboe wordt doorbroken, kan deze groep goed worden behandeld en binnen twee maanden nuchter/clean en gezond weer werken."
Directeur Richard van den Ende: "Juist managers en directeuren staan onder grote druk om nu te presteren. Het beloningssysteem in hun hersenen wordt overdreven sterk door de dopamine (stof die het geluksgevoel geeft, red.) geactiveerd. Daardoor denken zij dat ze zich gelukkig voelen wanneer ze alcohol of cocaïne nemen. Maar dat effect duurt slechts kort en je hebt steeds meer nodig. Zo ga je steeds verder bergafwaarts."
In een villa aan de IJssel , waarvan de locatie uit discretie voor de cliënten niet wordt vermeld, worden de managers met een intensieve behandeling in twaalf stappen in dertig dagen, zes maanden nazorg én een familieprogramma van hun drank of coke-probleem afgeholpen. Managers en directeuren, die afhankelijk zijn geworden van drank of drugs, besteden, zo blijkt uit onderzoek, net als hun werknemers, zo'n zestig procent van hun tijd aan hun probleem. Ze leveren voor de onderneming dus maar veertig procent rendement.
http://www.bloomberg.com/apps/news?pid=20601087&sid=awZEP3g3Ggnk&refer=homequote:Broken’ Billionaire Merckle Killed Self, Family Says (Update1)
By Aaron Kirchfeld and Sheenagh Matthews
Jan. 6 (Bloomberg) -- German billionaire Adolf Merckle killed himself, “broken” as his business empire crumbled under a growing burden of debt, his family said.
Merckle, 74, was hit by a train near his hometown of Blaubeuren, southeast of Stuttgart, yesterday evening, Die Welt newspaper reported. Merckle, whose holding company owes banks about 5 billion euros ($6.7 billion), owned stakes in HeidelbergCement AG and drug wholesaler Phoenix Pharmahandel AG.
“The dedicated family businessman was broken by his inability to handle the situation and he ended his own life,” the Merckle family said in a statement today.
Merckle, whose estimated $9.2 billion fortune put him 94th on Forbes’ list of the world’s richest people, had been hurt by bets on Volkswagen AG, a drop in the value of HeidelbergCement stock and increasing debt. He had been seeking emergency financing for more than two months from a group of more than 30 banks led by Commerzbank AG, Deutsche Bank AG, Royal Bank of Scotland Group Plc and Landesbank Baden-Wuerttemberg.
“His empire was falling apart,” said Stefan Mueller, managing partner at Proprietary Partners AG in Frankfurt. “This was his last desperate act.”
The family’s spiraling debt threatened holdings including its VEM Vermoegensverwaltung GmbH holding company, which owed the bank about 5 billion euros, people familiar told Bloomberg News. Merckle’s empire spanned the cement, machinery and drug industries.
Stake Sales
The Merckle family was expected to have to sell stakes in HeidelbergCement, Germany’s biggest cement maker, Phoenix Pharmahandel, a drug wholesaler, and Ratiopharm GmbH, a generic drugmaker as part of a deal with banks, people familiar with the matter said on Dec. 15.
HeidelbergCement fell 8.2 percent to 30.60 euros in Frankfurt trading. The Heidelberg-based company declined 70 percent last year, a fall that led the banks to seek additional financial guarantees from the billionaire.
Born in 1934, Merckle fled with his family to Blaubeuren, a city with about 12,000 people in southwestern Germany, from the Sudetenland, the historical border region of the Czech Republic long inhabited by ethnic Germans and seized by the Nazis in September 1938.
Merckle’s grandfather founded a company called Drogen und Chemikalien en gros in 1881 and his father expanded the company by buying two pharmaceutical companies after taking the helm in 1915. The company was seized during the Nazi era.
Merckle, a lawyer whose only luxury was climbing in the mountains, took over the family company in 1967 at a time when it had 80 employees and 4 million deutsche marks ($2.5 million) in sales.
De druppel, whehe telegraafhumor .quote:Op woensdag 24 december 2008 11:23 schreef Drugshond het volgende:
Dit zal ook wel lekker bijdragen.
[..]
Bron: Times Online, http://business.timesonli(...)y/article5554017.ecequote:Irish property tycoon commits suicide
Ian King, Deputy Business Editor
Irish police believe a well-known Dublin businessman, with extensive property interests in Britain, has killed himself.
The body of property tycoon Patrick Rocca was found at his home at Porterstown, Castleknock, in west Dublin, yesterday morning.
He was found with a single gunshot wound to the head and a firearm nearby has been taken away by forensic investigators, but Gardai have said they are satisfied nobody else was involved.
Mr Rocca, 41, had a fortune which was put at ¤500million (£462.9m) in 2007 and he is thought to have completed 20 property deals in the UK during the last few years, worth about ¤300million in total, including ¤100 million for a distribution centre for retailer Argos in Bedford.
Other UK property assets owned by his company, Accorp Properties, include Lloyds Chambers on Portsoken Street in the City, Quadrant House in Sutton, Surrey; Norwich Union House in Sheffield, and Crystal Court near London’s City Airport.
He kick-started his UK property portfolio in 2005 with the ¤17million acquisition of two office blocks near Gatwick Airport.
Father-of-three Mr Rocca and his wife, Annette, were well-known on the Dublin social circuit and big donors to charities. His sister Michelle, a former Miss Ireland, is partner of acclaimed singing legend Van Morrison.
Mr Rocca’s business career began in 1983 when he joined the family business, Rocca Tiles, which had been set up by his father in Dublin in 1976.
He and his father, also called Patrick, expanded the business rapidly during the 1990s and Mr Rocca took full managerial control when his father retired in 1995. The company was sold in 2000 but the family retained a 20 per cent interest — only to see a receiver appointed to the business and its sister company, Tilebusters, in 2002.
There is speculation in Irish business and media circles today that Mr Rocca, who holidayed in Marbella and who bought a Sikorsky helicopter in November before upgrading to a Jet Ranger, may have lost a substantial sum in Anglo-Irish Bank — which was nationalised by the Irish Government late last week.
A number of well-known business personalities have recently taken their own lives. German billionaire Adolf Merckle killed himself two weeks ago, after losing a fortune by wrongly short-selling shares of Volkswagen, while French investment manager Rene-Thierry Magon de la Villehuchet, killed himself before Christmas after putting £1billion into fraudster Bernard Madoff’s scheme.
Bron: http://www.menafn.com/qn_news_story_s.asp?StoryId=1093227919quote:Cash crunch pushes Dubai businessman to commit suicide
Arab News -10/01/2009
(MENAFN - Arab News) The financial crisis has claimed another victim. A 60-year-old Pakistani businessman apparently committed suicide by near self-decapitation with an electric chainsaw because he was facing bankruptcy.
The incident occurred at around 2:30 p.m. on Wednesday in the Al-Qassimia area in Sharjah, according to Sharjah police.
The police said the man's wife had gone to work in the morning leaving him at home. She tried calling him several times but he was not answering his phone. She became worried and went back home at around 2:50 p.m. When she arrived she found her husband lying dead on the floor drenched in blood.
The chainsaw had nearly severed the man's head from his torso. The woman switched off the chainsaw and covered his body with a sheet. She then called their son in Dubai.
The son called the police at around 4 p.m. The police questioned the wife and the son who told them that the deceased had been experiencing a lot of stress recently because of financial difficulties.
He had several construction companies and had invested in real estate projects. Because of the credit crunch the man's companies had run into trouble and he did not have the liquidity to pay his creditors or clients. The police also questioned the man's acquaintances that all corroborated the family's statements.
quote:The Financial Crisis Is Driving Hordes of Americans to Suicide
By Nick Turse, Tomdispatch.com. Posted January 29, 2009.
Pushed past their breaking points, people are robbing banks to pay the rent, setting homes on fire -- even taking their own lives.
The body count is still rising. For months on end, marked by bankruptcies, foreclosures, evictions, and layoffs, the economic meltdown has taken a heavy toll on Americans. In response, a range of extreme acts including suicide, self-inflicted injury, murder, and arson have hit the local news. By October 2008, an analysis of press reports nationwide indicated that an epidemic of tragedies spurred by the financial crisis had already spread from Pasadena, California, to Taunton, Massachusetts, from Roseville, Minnesota, to Ocala, Florida.
quote:Financieel directeur Freddie Mac dood aangetroffen
Uitgegeven: 22 april 2009 15:03
Laatst gewijzigd: 22 april 2009 15:14
WASHINGTON - De financieel directeur van de Amerikaanse hypotheekgigant Freddie Mac, David Kellerman, is woensdag dood aangetroffen. Volgens lokale media gaat het om zelfmoord.
De 41-jarige Kellerman werd op aanwijzing van zijn vrouw gevonden in Fairfax County, een voorstad van Washington.
Kellerman werkte al zestien jaar voor Freddie Mac. Sinds september vorig jaar was hij de financiële topman van Freddie Mac.
Freddie Mac is samen met Fannie Mae groot geworden op de hypotheekmarkt, doordat het huizenbezit vanuit de Amerikaanse overheid sterk werd gestimuleerd.
Overname
In 2007 kwamen beide instellingen in de problemen toen de Amerikaanse huizenmarkt inzakte. De overheid zag zich vorig jaar genoodzaakt de instellingen over te nemen.
Bron: http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6169133.ece#cid=OTC-RSS&attr=797093quote:British banker Hywel Jones left in coma after Bahamas gun ambush
POLICE in the Bahamas are investigating the execution-style shooting of a British banker. Hywel Jones, 55, originally from north Wales, was shot in the back of the head by a gunman waiting in ambush outside the office of his offshore financial services company in Nassau, the country’s capital.
Yesterday, he was critically ill in a coma and under police guard after emergency surgery. It is believed the bullet passed through his head.
His brother has flown from California to be at his bedside and to comfort their elderly mother, who had moved from Wales to live near her son.
Jones was arriving for work when he was shot. The gunman, described as a “slim, dark male”, escaped on a motorcycle.
The victim had worked for NatWest in Britain before moving to the Bahamas in the late 1990s. He is the former director of the Bankers’ Association of the Bahamas and the Bahamas Institute of Bankers.
Assistant Superintendent Leon Bethel, the officer leading the investigation, said he believed several people had witnessed the shooting last Wednesday but were afraid to come forward. Police are unaware of a motive but Bethel said Jones was not a random target.
The banker told a journalist friend in Miami weeks before the attack that he feared for his safety and claimed he had been beaten up by two people a few weeks earlier.
The friend, David Marchant, also from Wales, publishes a newsletter called Offshore Alert, which exposes financial irregularities in the Caribbean. He said: “The Bahamas needs to solve this murder attempt for the reputation of its financial sector, which it relies upon for wealth.
“I might take it upon myself to investigate this case.”
Police are trying to establish whether the shooting was linked to Jones’s private life or financial affairs. Jones is divorced and has had several girlfriends.
Bethel said: “We have interviewed some of his family members. They have suspicions about why he was shot, but I cannot repeat them at this time as it may jeopardise the success of our investigations.”
Lester Turnquest, a former MP on the island and a former business partner of Jones, described him as someone who “thrived on excitement and living close to the edge”.
Despite a high murder rate in the Bahamas, attacks on expats are rare. There was a spate of killings during drug wars in the 1980s, when the Medellin cartel from Colombia was trying to set up staging posts and money-laundering systems.
Earlier this month Maria Van Beek, the insurance commissioner of Guyana, was shot in the stomach as she drove to work. She and regulators in the Bahamas had been involved in liquidating an insurance company to protect depositors.
The Foreign Office in London said it was in contact with the Bahamian authorities over Jones’s shooting.
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