Recouping Madoff cash ‘more difficult’ after friend’s death

THE death of Jeffry Picower, accused of profiting more than $7 billion (€7.7bn) from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys have said.

Picower’s wife, Barbara, on Sunday discovered the 67-year-old’s body at the bottom of the pool at their oceanside mansion and pulled him from the water with help from a housekeeper, authorities said. He was pronounced dead at Good Samaritan Medical Centre. Palm Beach police are investigating the death as a drowning, but have not ruled out anything over the cause of death.

Picower had been accused by jilted investors of being the biggest beneficiary of Madoff’s schemes.