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U.K. Veteran Commits Suicide Over Madoff Losses|
A retired British Army major has killed himself after losing his life savings to the Bernie Madoff Ponzi scheme.
Just before Christmas Rene-Thierry Magon de la Villehuchet, a hedge fund manager, killed himself after his fund lost $1.4 billion to Madoff.
William Foxton, 65, who retired last November had invested his entire savings in the Herald USA Fund and Herald Luxemburg Fund, both of which suffered hundreds of millions in losses as a result of Madoff's Ponzi scheme.
Last Tuesday, he left his Southampton home and walked to a park, where, sitting on a bench, he shot himself in the head with a pistol.
Foxton's son, Willard, 28, told the Times Online:
"I think it’s disgusting that Bernie Madoff is sitting in his New York property, thinking that all he did was steal money, when, in fact, what he was really doing was ruining lives.
"I feel a little helpless at the moment. Essentially I want Madoff and others involved in Herald funds to know that they have my father’s blood on their hands."
William Foxton was a decorated soldier who lost an arm in combat before retiring from the military in 1970s. During the 1990s and 200s he was a member of the European Commission Monitoring Mission and also spent time as a spokesman for the Organization for Security and Cooperation in Europe. He also did work for the German charity Arbeiter Samariter Bund, according to his son.
Willard Foxton told AP that he was so angry at first, he wanted to go to Madoff's trial and throw his father's medals in Madoff's face.
Madoff was arrested in December as his Ponzi scheme unraveled as investors frightened over the recession wanted to take their money out; he remains confined under house arrest.