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- Dubai 04:39 05:55 12:22 15:50 18:44 20:00
Rene-Thierry Magon de la Villehuchet (SUPPLIED)
Authorities investigating the Bernard Madoff scandal have yet to charge possible accomplices in his alleged pyramid scheme as they continue to probe the role of family members who worked with him.
Madoff's two sons, Mark and Andrew, who were arrested earlier this month in connection with their father's suspected fraud, have reiterated that they were not aware of a scam to bilk investors. Other family members, including his brother Peter, and a niece, also say they learned of Madoff's alleged scam only when he was arrested on December 11.
His two sons said they decided to hand over their father to the police after learning of his bogus investment scheme. But authorities are still looking at whether family members aided the fraud.
Federal investigators are also examining the role of key firm executives, "feeder funds" that transferred money to Madoff's firm and a small accounting firm that handled the firm's bookkeeping.
Madoff meanwhile remains the only person charged in the scheme that lost at least $50 billion (Dh184bn) in investors' money, with major charities and prominent banks affected.
French investor lost his, family's funds
Rene-Thierry Magon de la Villehuchet saw his fortune and his loved ones' money disappear along with his clients' when he lost $1.4 billion (Dh5.14bn) he had invested with Bernard Madoff, the French financier's brother said.
Magon de la Villehuchet, 65, was found dead at his desk in New York on Tuesday, both of his wrists slashed and a bottle of pills nearby. His brother said Magon de La Villehuchet invested virtually all his own funds, along with money from friends and family, with Madoff, who was arrested on December 11 and allegedly told FBI agents he had masterminded a $50bn fraud.
Magon de la Villehuchet "invested his own fortune," up to several tens of millions of dollars, his brother Bertrand Magon de la Villehuchet said. "He was totally ruined," and so was his business partner Patrick Littaye, Bertrand said.
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