Madoff fraud losses led to suicide, inquest told
Friday 12 June 2009
A former soldier shot himself in the head because he could not face the shame of going bankrupt after becoming a victim of the multibillion-dollar Bernard Madoff fraud, an inquest heard.
William Foxton, 65, was found with gunshot wounds to his head in a park next to the magistrates' court in Southampton on 10 February. His body was found on a bench with a 9mm Browning pistol in his lap.
Detective Sergeant Paul Gelman said a suicide note was found at his home explaining why he wanted to take his own life, while another was found on his body saying how he came to be in possession of the gun. His son, Willard, said his father's life savings had been invested in two hedge funds, which invested the money in the Madoff hedge funds.
"He [Mr Foxton] was brought low by the greed of Bernie Madoff," he added. Madoff, 71, is awaiting sentence in New York this month after admitting 11 charges in connection with what is believed to be the world's biggest fraud case.
The Southampton coroner recorded a verdict of suicide.
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