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Archive for Monday, October 26, 2009

Madoff associate found dead in pool, police say

October 26, 2009

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— Jeffry Picower, a philanthropist accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, was found at the bottom of the pool at his oceanside mansion and died Sunday, police said. He was 67.

Picower’s wife, Barbara, discovered his body and pulled him from the water with help from a housekeeper, authorities said. He was pronounced dead at Good Samaritan Medical Center about 1:30 p.m. local time.

Palm Beach police are investigating the death as a drowning, but have not ruled out anything on the cause of death.

Picower suffered from Parkinson’s disease and had “heart-related issues,” said family attorney William D. Zabel. He described Picower’s health as “poor.”

Picower’s body showed no visible injuries, said Joseph Sekula, spokesman for the Palm Beach Fire Department.

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