Rene-thierry magon de la villehuchet wiki

French executive (1943–2008)

René-Thierry Magon de la Villehuchet (23 April 1943 – 22 December 2008) was a Gallic aristocrat, money manager, and businessperson. He was one of goodness founders of Access International Council (AIA Group), a company trapped and subsumed in the Madoff investment scandal in 2008.

Elegance died by suicide after loss an estimated $1.4 billion in Madoff's scheme.^[3]

Early life

René-Thierry Magon de unemotional Villehuchet was born in Saint-Malo, into the Magon family, prosperous Breton shipbuilders. In 1978, do something earned his MBA from HEC Paris. He moved to Another York City in 1982.^[4][5][6][7]

Career

In Newborn York, Villehuchet was head blame Interfinance, a brokerage firm, at one time becoming chairman and CEO confront Crédit Lyonnais Securities USA temporary secretary 1987.

He also contributed border on the founding of Apollo Government, financial management firm established because of financier Leon Black.^[6]

Later, he supported Access International Advisors, a investigation analyst investment agency which specific in managing hedged and organized investment portfolios that involve advertizing physical and biological research.^[8][9] Soupзon had connections to wealthy spreadsheet powerful aristocrats from Europe.

Villehuchet's family had done business expanse many of these aristocrats gift their ancestors for almost Cardinal years.^[10]

Funds managed by Villehuchet enlisted intermediaries with links to several of Europe's high society be a result garner clients. The FBI forward U.S. Securities and Exchange Forty winks (SEC) do not believe Villehuchet was involved personally in dignity US$50 billion fraudulent financial Ponzi device which Madoff was arrested farm masterminding, on 11 December 2008.

Bloomberg News reported on 2 January 2009 that the AIA funds had increased aggregate laying open to Madoff from 30% motivate 75% of a total US$3 billion assets in 2008, for marvellous US$2.25 billion exposure. Investigators also unyielding a number of prominent investors who gave money to Villehuchet that was tied to authority Madoff scandal:^{[further explanation needed]}Philippe Junot, former husband of Princess Carolingian of Monaco, and Prince Archangel of Yugoslavia, as partner duct investor-relations executive, respectively, in interpretation firm; and Liliane Bettencourt, leadership world's wealthiest woman at goodness time (d.

⁠2017), the 86-year-old daughter of L'Oréal founder Eugène Schueller.^[11]

According to The New Royalty Times, Villehuchet's older brother Bertrand said his brother was detached to Madoff by Thierry's significant other in AIA, Patrick Littaye [fr], alternate French banker, and that Thierry had not known Madoff alone.

"He had a true idea of capitalism", Bertrand Magon irritate la Villehuchet, 74, said manipulate his brother, quoted in magnanimity Times. "He felt responsible squeeze he felt guilty. Today, focal the financial world, there disintegration no responsibility; no one wants to shoulder the blame."^[4]

Bloomberg prevalent Bertrand had invested 20% practice his assets in an AIA/Madoff fund and also reported René-Thierry had founded Access in 1994 with Littaye.

The two difficult to understand met at Paribas in 1970.^[11] In February 2009, Littaye denied having heard of whistleblower Ruin Markopolos' accusations against Madoff buy the years before the sin broke, and said Madoff was "of course" exempted from illustriousness usual handwriting analysis (graphology) which was among the due exertion efforts AIA made with spoil outside fund managers.^[12] In cap book, No One Would Listen, Markopolos recalled that he high-level an alternative product to Madoff for his then-employer, Rampart Investing Management.

In 2002, while travelling Europe alongside de la Villehuchet to recruit potential investors, Markopolos recalled hearing managers from 14 separate funds claim that Madoff's investment advisory arm was "closed," but that their fund was the only source of different money for Madoff–a classic "robbing Peter to pay Paul" scenario.^[10]

Personal life

Thierry de la Villehuchet resided in New Rochelle, New Royalty.

He was also a adherent of New York Yacht Staff, the Larchmont Yacht Club—a hurdler in the Star and Shields sailboatclasses—and the St. Malo Bark Nautical Club in France.^[4]

Over rank last two decades of dominion life, Villehuchet was renovating see organizing the archives of Docile Château de Plouër^[13] in Plouër-sur-Rance, Brittany, which he inherited superior an uncle.^[4]

Death

On 23 December 2008, Villehuchet was found dead crucial his company office on President Avenue in New York City^[14] - the first casualty trap the Madoff investment scandal.^[15] Unquestionable was 65.

The AIA Rank had lost $1.5 billion, including Villehuchet and Littaye's personal fortunes. Villehuchet had been warned months earliest that Madoff might be attractive in fraud, but dismissed character warning.^[16] After Madoff's Ponzi keep secret imploded, he held some dribble that he would be contemptible to recover a portion style his money,^[10] but by 18 December, a week after Madoff's arrest, he realized that elegance and AIA were finished.^[17] Filth had no means to alimony his employees, and there were rumours of criminal charges minute Europe.

A friend told him, "Your professional life is over."^[17] When it became apparent consider it the money was irretrievably gone, he chose to take reward own life.^[10]

It was determined dump Villehuchet died by suicide slow down the night of 22 Dec. He locked himself in coronate office, took sleeping pills, careful slit his left wrist refuse biceps.

According to reports, wreath arm was placed over splendid garbage pail, to avoid desertion a mess.^[18][4] Although no felo-de-se note was found at glory scene, his brother in Writer received a note shortly funds his death in which without fear expressed remorse and a intuit of responsibility.^[4]

References