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Brother: Madoff Suicide Investor Lost Own Money

Associated Press - December 26, 2008 4:03 PM ET

PARIS (AP) - He didn't just lose his clients' money with Bernard Madoff (MAY'-dawf). An investor who took his life this week in New York had also lost his own money, and his family's money.

Those details come from the brother of the French financier, Rene-Thierry Magon de la Villehuchet (reh-NAY'-tee-ay-REE' ma-GOHN' duh lah veel-oo-SHAY').

The brother says the financier had "invested his own fortune" with Madoff -- as much as tens of millions of dollars -- along with money from family and friends.

He says in the aftermath of the Madoff scandal, the investor and his business partner were "totally ruined."

According to his brother, the financier had begun investing with Madoff three or four years ago, and had a total of $1.4 billion invested with him.

He says his brother thought at first that he'd be able to get the money back -- but that "gradually he realized he wouldn't be able to."

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