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Man shot himself over Madoff loss | Man shot himself over Madoff loss |
(41 minutes later) | |
A retired soldier shot himself in the head after losing his life savings in the Bernard Madoff investment scandal. | A retired soldier shot himself in the head after losing his life savings in the Bernard Madoff investment scandal. |
Bill Foxton, 65, was found in a park in Southampton on 10 February, an inquest held in the city heard. | Bill Foxton, 65, was found in a park in Southampton on 10 February, an inquest held in the city heard. |
Mr Foxton, who had placed nearly £1m in two hedge funds which had in turn invested the money with Madoff, left suicide notes referring to his losses. | Mr Foxton, who had placed nearly £1m in two hedge funds which had in turn invested the money with Madoff, left suicide notes referring to his losses. |
Recording a verdict of suicide, coroner Keith Wiseman described the former major's death as "absolutely tragic". | Recording a verdict of suicide, coroner Keith Wiseman described the former major's death as "absolutely tragic". |
Madoff is awaiting sentencing in the US after admitting a $50bn (£31bn) fraud. | Madoff is awaiting sentencing in the US after admitting a $50bn (£31bn) fraud. |
At the inquest, Det Sgt Paul Gelman, of Hampshire police, explained that Mr Foxton had served with the French Foreign Legion before joining the British Army. | At the inquest, Det Sgt Paul Gelman, of Hampshire police, explained that Mr Foxton had served with the French Foreign Legion before joining the British Army. |
He went on to work for the Sultan of Oman as a military adviser. | He went on to work for the Sultan of Oman as a military adviser. |
Mr Gelman said that the note left at Mr Foxton's Southampton home for his wife, Roberta, explained that he was going to commit suicide because of his financial losses. | Mr Gelman said that the note left at Mr Foxton's Southampton home for his wife, Roberta, explained that he was going to commit suicide because of his financial losses. |
He (my father) was brought low by the greed of Bernie Madoff Mr Foxton's son, Willard | |
Mr Wiseman said: "Mr Foxton could not tolerate what he would have regarded as the shame of being in financial difficulties. | Mr Wiseman said: "Mr Foxton could not tolerate what he would have regarded as the shame of being in financial difficulties. |
"He referred to financial difficulties in the note, in particular to some difficulties arising from what has become known as the American Madoff scandal." | "He referred to financial difficulties in the note, in particular to some difficulties arising from what has become known as the American Madoff scandal." |
Speaking of Mr Foxton's military past, Mr Wiseman added: "He was very much a larger-than-life character. | Speaking of Mr Foxton's military past, Mr Wiseman added: "He was very much a larger-than-life character. |
"He had worked in various military fields and the latter part of his life had been spent with non-government organisations in areas such as Kosovo and other areas of the Middle East helping people who were in grave difficulties because of conflict." | "He had worked in various military fields and the latter part of his life had been spent with non-government organisations in areas such as Kosovo and other areas of the Middle East helping people who were in grave difficulties because of conflict." |
The inquest also heard that Mr Foxton was a member of the British bobsleigh team in the 1972 European Championships. | The inquest also heard that Mr Foxton was a member of the British bobsleigh team in the 1972 European Championships. |
At the time of his death, his son Willard said that his father was distraught after losing his family's entire savings in the investment scam. | At the time of his death, his son Willard said that his father was distraught after losing his family's entire savings in the investment scam. |
Willard Foxton, 28, from London, said on his blog site that Madoff had "blood on his hands" over the death of his father, who had two grandchildren. | |
"He (my father) was brought low by the greed of Bernie Madoff," he wrote. | "He (my father) was brought low by the greed of Bernie Madoff," he wrote. |
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