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Exec Tied To Fairfield Greenwich Hedge Fund, Madoff Scandal Commits Suicide

Bernie Madoff is serving a 150-year prison term and forfeited $17.179 billion for running a huge Ponzi scheme. A hedge fund exec who lost billions in the scheme committed suicide Monday in New York.
Bernie Madoff is serving a 150-year prison term and forfeited $17.179 billion for running a huge Ponzi scheme. A hedge fund exec who lost billions in the scheme committed suicide Monday in New York. Photo Credit: Wikipedia

An executive with ties to the Fairfield Greenwich hedge fund, which was once based in Connecticut, jumped to his death at a high-end New York City hotel, according to the CNBC.

Charles Murphy, 56, who most recently worked with hedge fund heavyweight John Paulson at Paulson & Co., was pronounced dead at the Sofitel building in an apparent suicide Monday afternoon, CNBC said.

Murphy suffered large losses in Bernie Madoff's Ponzi scheme in 2008. Murphy had invested over $7 billion from his Fairfield Greenwich fund, which had earlier been based in Greenwich, CNBC said.

The fund eventually agreed to pay $125 million to settle a lawsuit related to the Madoff case, according to The Wall Street Journal.

Before his suicide, Murphy added his wife to the deed of their Upper East Side mansion, which he purchased for $33 million in 2007 shortly after joining Fairfield Greenwich, where he had half his assets invested at the time, according to the New York Post.

Click here to read the story at the New York Daily News and click here to read the story at CNBC.

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