Online Broadband Guide
Online Broadband Guide

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.



editors' picks

March 30, 2017
Auston Matthews sets Leafs rookie record for goals; breaks Wendel Clark's record
William Nylander had an assist on Matthews' goal, extending his point streak to 11 games, also a Leafs rookie record. I got a ton of respect for (the officials). "They told me he wasn't available today, but things are real good".

March 30, 2017
Scorpio Tankers Inc. (NYSE:STNG): What do the Analysts and Insiders Say?
When a stock price gets close to either the 52 week high or low, this tends to draw the attention of investors and traders. Company's distance from 20 day simple moving average is -5.48% and distance from 50-Day simple moving average is -6.22%.

March 28, 2017
Backed forces capture IS-held airport near Euphrates dam
The militants said US -led coalition airstrikes had locked up the dam's gates, causing the water level behind it to rise. The SOHR said Daesh militants had withdrawn from the airbase under heavy artillery fire and US-led coalition airstrikes.

March 27, 2017
Muslim bodies hamstringing a fix to Ayodhya dispute: Swamy
Iqbal told the meeting that his father would always say he didn't want Ram Lalla (child Ram) in a tent (the makeshift temple). The Supreme Court must constitute a panel of retired judges or serving judges to initiate the talks with parties concerned.

March 27, 2017
Trump to travel to Brussels for North Atlantic Treaty Organisation meeting in May
Former Secretary of State Madeleine Albright told the Senate Armed Services Committee that the move to skip the main summit sends "a most unfortunate signal".

March 24, 2017
Patients suffer as doctors in Mumbai continue protest over recent attacks
The court asked the state government to provide security to doctors at the government hospitals so they can work without any fear. The doctors at AIIMS had turned up for work yesterday, but they expressed solidarity with their colleagues in Maharashtra.

March 23, 2017
'Super Mario Run' Android Release Date Set For March 23
For Toad Rally, the appearance rates of various Toads have been adjusted, making it easier to get Toads to purchase buildings. Now, with Nintendo's agreement with Apple expired, the game capturing the attention of millions worldwide is on Android.

March 22, 2017
Man Utd defender Jones withdraws from England squad
Despite joining Sunderland in January 2015 and scoring 15 goals to keep them up, he was also overlooked by Hodgson for Euro 2016. Click through the gallery above to see the England training photos ahead of the friendly match with Germany.

March 22, 2017
9/11 victims suing Saudi Arabia
One lawsuit has consolidated most of the actions of the Saudi government was filed Monday in the U.S. The Saudi government has denied any involvement in the attacks.

March 21, 2017
Sesame Street Just Introduced Its First Muppet With Autism
Julia's character aims to combat stigmas associated with autism spectrum disorder , as diagnoses of autism have grown. There is an expression that goes, "If you've met one person with autism, you've met one person with autism".