Ok, so that makes it 100% clear why he offed himself. He was a guilty, lying rat who could not handle the shame that would have showered upon him when this was made public in court.
$745,482 to $18,100,000 over three years. One account went from $0.00 to $2,000,000 (zero transactions). According to Mr. Picard, Mark received "astronomical compensation"â $29.3 million from 2001 to 2008, including bonuses of $4.8 million in 2006 and more than $9 million in 2007. He said Mark deposited a total of $745,482 into seven customer accounts he held and his family held, but redeemed $18.1 million. "It wasâor at the very least, should have beenâobvious to Mark that the massive gains reflected in his customer account statements did not reflect actual securities transactions or market conditions," the suit said. In one account, opened in 1998, no money was ever invested, but account records reflected shares of Dell that were purportedly purchased in early 1997, 18 months before it was opened, Mr. Picard alleged. In 1998, nearly $2 million was allegedly redeemed from the account. Mr. Picard alleged that Andrew Madoff withdrew $17 million from his accounts over the years, also with an investment of less than $1 million. Mr. Picard described Bernard Madoff's firm as a "family piggy bank" that relatives used to support lavish spending habits.
from the "duh" file........... In a Ponzi scheme, for every dollar that leaves, one must come in. Picower pulled 5bb. Now, what self respecting scumbag running a Ponzi scheme would want to work that hard? You want Mrs. Liverstein pulling in her 10mm so you can pay her dividends, and show her a fake balance. You want Mr. McDonald to throw in 2mm, Mr. Weinstein to toss in 5mm, but what do you need someone in bed with Milken 25 years ago (read den of thieves), obviously an inside player, to pull 5 bb. You have to go get 5bb to replace it. Picower proves Madoff was a well paid strawman. Front guy. He ran the money, pulled a nice share, but when the excrement hits the wind oscillator, he takes the fall, and the others fade into the shadow. You don't need to be Colombo to figure this out.