"Investor dies in Dublin, apparently by suicide" by Eamon Quinn, International Herald Tribune | January 22, 2009
DUBLIN - Patrick Rocca, scion of an Irish business family and part of a generation of "Celtic Tiger Cubs" whose fortunes have waned in the economic downturn, was found dead in his home in suburban Dublin in an apparent suicide, the police said yesterday.
Rocca, 42, reportedly faced financial problems from his real estate investments in Britain and Ireland as their decade-long property booms ended after borrowing costs rose and demand for real estate cooled. Rocca was found Monday in his home at Castleknock, a prosperous area, said a police spokeswoman who declined to be identified because of department policy. She called the death "a personal tragedy" and said that it would not be investigated.
The global economic implosion has taken other steep personal tolls in recent weeks. The patriarch of the German company HeidelbergCement committed suicide after speculation in volatile
The French cofounder of Access International Advisors, a fund that lost money with the arrested financier Bernard Madoff, committed suicide.
Yeah, about that "suicide":
"De La Villehuchet was found "with his feet propped up on his desk, a trash pail nearby to collect blood," and no sign of a second person.... He had "multiple stab wounds" to his arms and wrists, and a box-cutter and pills were nearby"
????????
A top executive at a failed mortgage lender in Maryland and a distraught stock speculator in India who had steep losses in the stock market also ended their lives....
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Could THIS GUY be NEXT, readers?
A lawyer for Robert Jaffe yesterday argued in Suffolk Superior Court that the broker could not legally be forced to travel from Palm Beach, Fla., to Boston to testify in the Massachusetts Securities Division's investigation of disgraced money manager Bernard L. Madoff.
Lawyers for Secretary of State William F. Galvin, who oversees the Securities Division, said he does have that authority, under a state law that deals specifically with the brokerage business and which gives Galvin broad power to subpoena brokers who are licensed to do business here. Jaffe is licensed as a broker in Massachusetts and had raised funds for Madoff, the alleged mastermind behind a $50 billion Ponzi scheme.
Judge Stephen E. Neel's decision on whether to enforce Galvin's subpoena is likely to come down to one point of law: whether Galvin's power to subpoena brokers trumps other state law and legal precedent regarding subpoenas. In an interview, Galvin said that when brokers fill out state licensing applications, they agree to comply with investigations by the Securities Division. That includes accepting the service of a subpoena no matter where they live, he said, under the Uniform Securities Act.
Typically, people cannot be forced to travel more than 50 miles to provide testimony. Dan Rabinovitz, a Boston securities lawyer, said, "Ordinarily, a Massachusetts court cannot compel a Florida resident to travel to Massachusetts to give testimony."
Galvin has said that his office offered to take testimony from Jaffe in Palm Beach, but Jaffe's lawyers refused. Jaffe is a resident of Florida, his spokesman said, although he maintains a home in the Boston suburb of Weston. Jaffe's spokesman, Elliot Sloane, said Jaffe's subpoena was faxed to him in Palm Beach.
Yesterday, Judge Neel said he needed more information on the law to make a decision. He gave both parties until the close of business tomorrow to provide more documentation. One of Jaffe's attorneys, Barry S. Pollack, of the Boston law firm Sullivan & Worcester, had asked the judge for four weeks to prepare for any meeting with Galvin. Pollack said he and others representing Jaffe want the various regulators and officials looking into the Madoff case to coordinate their efforts, rather than require Jaffe to testify repeatedly.
Neel said four weeks was too long. "How could anyone imagine there wouldn't be multiple inquiries?" he asked rhetorically. Jaffe's lawyers were in court because their client did not appear at a hearing at the Securities Division yesterday morning, for which he had been subpoenaed. It was the second time in two weeks that Jaffe's lawyers at the last minute informed the regulators that he would not appear.
He said he couldn't come because he was sick! What a SCUMBAG LIAR!
"There was a sense that Mr. Jaffe was avoiding testimony," Lawrence J. Kenney Jr., a special assistant attorney general, said. Jaffe is an employee of Cohmad Securities Corp., a New York firm that used to have a Boston office and whose business was to raise money for Madoff's investment funds. Jaffe has said he knew nothing of the scandal, which used one set of investors' money to pay off another. He and his family say they lost hundreds of millions of dollars.
Another officer of Cohmad, Marcia B. Cohn, also failed to appear under subpoena this week, said Kenney. Cohn could not be reached for comment yesterday.
Someone visit her house to make sure nothing happened to her?
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And what about this guy?
MIAMI - The Securities and Exchange Commission charged missing Florida money manager Arthur Nadel with fraud yesterday and accused him of recently transferring more than $1 million to secret accounts he held. The SEC complaint said the six hedge funds Nadel oversaw, which he valued at more than $300 million, actually contain less than $1 million. It obtained an emergency court order freezing Nadel's assets.
Nadel, the 76-year-old head of Sarasota, Fla.-based Scoop Management, was reported missing by his family a week ago. He left behind a suicide note that expressed guilt for losing clients' money and said someone might try to kill him. But police later found his car at an airport and tracked calls from Nadel's cellphone to locations outside Florida, including New Orleans and Slidell, La.
Remember Samuel Israel, "the convicted founder of hedge fund firm Bayou Group LLC who faked suicide?"
Looks like we got another one:
"a Jew, and, "a prominent player in Sarasota's Jewish social and philanthropic circles." Sound familiar?"
YUP!
Related: U.S. Government Knew About Madoff Scheme Since 1960
Two days after his disappearance, investors began complaining to police that possibly hundreds of millions of dollars were missing from the funds he ran. Nadel's disappearance came little more than a month after authorities arrested Bernard L. Madoff, who is accused of running a $50 billion Ponzi scheme.
The Nadel case has been called a "mini-Madoff" in local media. Madoff recruited many of his investors through social circles in ultrarich Palm Beach on Florida's east coast, while Nadel was a well-known philanthropist in Sarasota, a Florida west coast city that is home to many wealthy retirees. The SEC charged Nadel and two companies he controls, Scoop Capital LLC, and Scoop Management Inc., with defrauding investors at six hedge funds: Scoop Real Estate, Valhalla Investment Partners, Victory IRA, Victory, Viking IRA, and Viking.
How much you wanna bet he's kicking back his feet in a Tel Aviv hotel room right now.
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