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Partner at New York hedge fund jumped to his death

Partner at New York hedge fund jumped to his death

At 4:40 p.m. EDT on Monday, police received a report of a jumper at the Sofitel New York Hotel in Midtown Manhattan, according to law-enforcement officials. In doing so, Charles Murphy, 55, became the fourth person to commit suicide after losing billions in Bernie Madoff's $50 billion Ponzi scheme.

Shortly after Madoff's arrest, a French businessman whose firm lost $1.4 billion to Madoff's Ponzi scheme killed himself at his desk in his Manhattan office.

Murphy's apparent suicide also comes at a time when Wall Street has begun to worry about the rash of similar incidents linked to the industry.

The chilling preparations were likely made to help his wife Annabella secure sole ownership of their 11,500-square-foot townhouse on East 67th Street, legal experts said. "We are extremely saddened by this news", Paulson said in a statement.

Charles Murphy's hedge fund, Fairfield Greenwich Group, invested more than $7 billion in Madoff's wealth management firm - only to take a hard hit when the operation was revealed to be the largest Ponzi scheme in U.S. history. Company founder John Paulson reported the nydailynews described him as 'an extremely gifted and brilliant man, a great partner and a true friend'. "Our deepest prayers are with his family". The firm eventually lost almost $50 million of that money by the time the scam was revealed, according to the Wall Street Journal.

Come December, 2016, Fairfield Greenwich settled a class action suit for $80.2million, according to a website for the victims. Another investor, William Foxton, 65, committed suicide in 2009 because he was ashamed of his financial status.

He graduated from Harvard Law School and MIT Sloan School of Management, and had recently been serving as a partner with the investment management firm Paulson & Co.

As reported by The Post, Murphy's wife was so cash-strapped last summer that she couldn't afford to fix her Honda Odyssey after crashing it, according to an attendant at her parking garage.


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