via Consumer Affairs | July 11. 2010
Just when you thought Bernie Madoff and his Ponzi scheme were behind us, an alleged perpetrator’s suicide reminds us that investment fraud is an ongoing, international problem.
On July 7, the managing director of a hedge fund shot himself after running into the ocean at his home in Palma, Spain. This occurred as authorities arrived to serve him with an arrest warrant charging him with being part of a $378 million Ponzi scheme. He died on the way to the hospital.