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October 27, 2009, 02:02 PM ET
Picower's Death Ruled an Accident
Jeffry Picower drowned in the pool at his Florida mansion after suffering a heart attack, the Associated Press reports, citing Palm Beach County authorities.
Following an autopsy Monday, the 67-year-old investor and philanthropist’s death the previous day was preliminarily ruled accidental, pending the results of toxicology tests, said Michael Bell, the county’s chief medical examiner. William D. Zabel, the Picower family’s lawyer, said Mr. Picower was in poor health and suffered from Parkinson’s disease and “heart-related issues.”
Mr. Picower was seeking dismissal of litigation brought by the trustee in the case investigating the disgraced financier Bernard Madoff’s alleged Ponzi scheme. The bankruptcy trustee, Irving Picard, contended Mr. Picower profited to the tune of $7-billion. Mr. Picower and his wife, Barbara, shuttered their charitable foundation in December, claiming it had been wiped out due to their investments with Mr. Madoff.
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