Charles Murphy, 56, who joined John Paulson's firm in 2009, fell from a room in the luxury Sofitel New York Hotel in midtown on Monday afternoon. Murphy's Fairfield Greenwich fund had invested more than $7 billion with Madoff before it became known in 2008 that Madoff was running a Ponzi scheme.
Charles Murphy was pronounced dead after 5 p.m.at the Sofitel building in what authorities are calling an apparent suicide. Most hedge funders have a sizable annual bonus largely dependent on the fund's market profits, which means managers' compensation can be significantly reduced when the fund loses money. He reportedly owned a home on East 67th Street in Manhattan with eight bedrooms, 11 fireplaces, a gym and wine cellar.
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A former hedge fund manager who lost millions of dollars of his clients' cash in Bernie Madoff's investment scam has fallen to his death from a NY hotel in an apparent suicide.
Murphy and other company partners were named as defendants in a lawsuit by investors, who reached an $80 million settlement with the firm in 2013. "Our deepest prayers are with his family".
Murphy is the fourth person connected to Madoff to commit suicide.
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Before coming to Paulson, Murphy worked for hedge fund Fairfield Greenwich Group and several investment banks. Financial problems may have been come into play; the Post quoted a parking garage attendant as saying Annabelle Murphy was in an automobile accident previous year but couldn't afford to have the vehicle fixed.
One of Madoff's two sons, Mark, hanged himself on the second anniversary of his father's arrest. Ex-U.S. Army major William Foxton, 65, killed himself in 2009.
Madoff had two children.
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