Posted tagged ‘Willard Foxton’

Investor in Madoff Scheme Commits Suicide

February 14, 2009

William Foxton, a former British soldier, killed himself after losing his life savings in an alleged $50 billion fraud run by Wall Street financier Bernard Madoff.

From Reuters:

William Foxton, 65, who had served in the British Army and more recently worked as a defense contractor in Afghanistan, died from a single bullet wound to the head in the southern English port city of Southampton on Tuesday, police said.

“A pistol was recovered at the scene. Police do not believe the death to be suspicious,” a police statement said.

His son Willard said his father had returned from Afghanistan and revealed his life savings had been lost. He did not say how much had gone, but news reports said it was close to 1 million pounds ($1.45 million).

“He came back and we were all very glad he was back and retiring and we were looking forward to him spending a long and happy retirement with us, but unfortunately very recently … I got in contact with him to ask him some ordinary family stuff and halfway through the conversation he said: ‘Look, I’m really sorry, I can’t concentrate, I’m afraid I’ve lost everything, I’ve lost all the money, I might have to declare myself bankrupt’,” Willard Foxton told Sky news.

“He invested in hedge funds (and) without going into the names of the specific hedge funds, essentially these two hedge funds had taken the money, and as far as I can understand from news reports and the class action lawsuits being filed against them, they had taken all the money that was invested with them and then sunk that into Bernie Madoff’s fund.”

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