Billionaire investor Jeffry Picower made more money off Bernie Madoff's Ponzi scheme than any other investor. Yesterday, Picower was found dead in his Palm Beach swimming pool. Let's not jump to any conclusions.
The Palm Beach Fire Department told ABC News that Picower had no pulse when fire rescue workers arrived at his oceanfront mansion after his wife called 911. She and his housekeeper pulled his body from the pool shortly after noon.
But (not that you should read anything into this) we do know that Picower inspired a lot of hate. He reportedly made $7 billion in profit off his Madoff investments since the 1970s. That automatically makes him a villain. Irving Picard, the trustee overseeing the recovery of Madoff assets, is trying to get that money back. And, according to the WSJ, federal prosecutors "are looking into whether Mr. Picower or several other longtime Madoff associates had knowledge of or complicity in the fraud."