February 16, 2009

British family blames Madoff for suicide

Posted: 09:39 AM ET

Note: We'll be talking about this TONIGHT on Larry King Live – stay tuned to the LKL blog for more!

A former British soldier killed himself after losing his life savings in Wall Street financier Bernard L. Madoff's alleged $50 billion fraud scheme, according to the man's family.

William Foxton, 65, a decorated soldier who lost an arm during his military service and worked on United Nations humanitarian missions, died from a single bullet wound to the head Tuesday in the southern English city of Southampton, police said. He apparently walked to a park near his home, sat on a bench and fired the fatal shot.

Foxton's son Willard told reporters that his father recently discovered that his life's savings, estimated at more than $1 million, which he invested in two hedge funds, had then been poured into Madoff's fund.


Filed under: Bernard Madoff • Larry King Live

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Michael C. Mchugh   February 16th, 2009 9:50 am ET

My guess is that there are a lot more crooks like Madoff out there that we just haven't heard about yet. There were plenty in the 1920s, before the big crash.

President Obama will need a lot more IRS, SEC, Treasury and FBI agents to handle the flood of white-collar crime that is about to be uncovered.

Over the last 30 years, no one has been doing a very good job of protecting the public from predators in high places like these, and it's one of the things that has ruined the country in my life time. Yes, we are ruined. We're beyond bankrupt.

Mathew Owens   February 16th, 2009 11:51 am ET

The whiners on Wall Street still crying over there lost bonus's, saying without there bonus's they won't be able to pay more Taxs, I SAY OK< LET US FIRE YOU AND OUTSOURCE WALL STREET JOBS TO CHEAP LABOR... listen you wall street morons your pay check is TAXS, from US Tax Payers, YOU WALL STREET MORONS you do realize now that young Americans working at hamburger joints and fast food joints are paying your wages with TAXS from there paychecks,

You republicans can't support President Obama a 100%, Well I"m, looking foreward to the 2010 election, as we call it, hireing professionals, or at least trying too.

Tsvetan Penchev   February 16th, 2009 1:58 pm ET

That is why Christ's advice is not to collect reaches on Earth.

Mike, Zephyrhills, FL   February 16th, 2009 3:47 pm ET

Greed deserves Greed!!

Money is our worship/idol!!

We keep paying more and more taxes and getting less. Our nation doesnt care about each other, our family values and morals are in the basement. People dont even know how to live on barely nothing, cant grow their own food and would kill you now for a can of tuna.

Gambling has become the way to get rich , taking over the entire country and world! States cant function without such revenue. And we tie it too education. So why is all states having trouble funding education programs?

I see Seniors here in FL, sitting in their cars scratching off instant lotto tickets, spending most of thier checks now. And then they go to a Local Casino or get on a bus and go to MS to lose it, or elsewhere.

Gambling, Greed, Low Morals, living beyond our means, Its leading to disaster, and I have no idea how to stop it!!

Mike, Zephyrhills, FL   February 16th, 2009 3:50 pm ET

Arent we just like the Roman Empire>?? They didnt make either!!

Mike, Zephyrhills, FL   February 16th, 2009 3:51 pm ET

Madoff doesnt hold a candle to how we get ripped off everyday in the trillions!! Taxes and fees etc,,, Here are a few!

> Accounts Receivable Tax
> > Building Permit Tax
> > CDL license Tax
> > Cigarette Tax
> > Corporate Income Tax
> > Dog License Tax
> > Excise Taxes
> > Federal Income Tax
> > Federal Unemployment Tax (FUTA)
> > Fishing License Tax
> > Food License Tax
> > Fuel Permit Tax
> > Gasoline At x (44.75 cents per gallon)
> > Gross Receipts Tax
> > Hunting License Tax
> > Inheritance Tax
> > Inventory Tax
> > IRS Interest Charges IRS Penalties (tax on top of tax)
> > Liquor Tax
> > Luxury Taxes
> > Marriage License Tax
> > Medicare Tax
> > Personal Property Tax
> > Property Tax
> > Real Estate Tax
> > Service Charge Tax
> > Social Security Tax
> > Road Usage Tax
> > Sales Tax
> > Recreational Vehicle Tax
> > School Tax
> > State Income Tax
> > State Unemployment Tax (SUTA)
> > Telephone Federal Excise Tax
> > Telephone Federal Universal Service Fee Tax
> > Telephone Federal,
> > State and Local Surcharge Taxes
> > Telephone Minimum Usage Surcharge Tax
> > Telephone Recurring and Non-recurring Charges Tax
> > Telephone State and Local Tax
> > Telephone Usage Charge Tax
> > Utility Taxes
> > Vehicle License Registration Tax
> > Vehicle Sales Tax
> > Watercraft Registration Tax
> > Well Permit Tax
> > Workers Compensation Tax

irene phillips   February 16th, 2009 10:02 pm ET

i think the gov is sick to give more money to the auto industry! what the hell are we the taxpayers going to do as our hands are tied? we have no sy as to how our tax dollars re being spent! what a country!!!

ed,vancouver canada   February 17th, 2009 4:03 am ET

madoff scammed a whole 5 months war costs.

Kelli from Tampa   February 17th, 2009 9:07 pm ET

Agree with Michael up there. This is just the tip of the iceburg.

Nancy from Neenah   March 12th, 2009 9:55 pm ET

I can't help but comment on the name "Madoff" ..... as in "made off" like a bandit! Aptly named, don't you agree?

Moe From Canada   March 12th, 2009 9:57 pm ET

If we could get all the money back that has been swindled, ponzied and basically taken from the middle and the upper class citizens in say over the last three or four years and give it ALL back, we wouldn't be in such a mess right now. It's a global disaster! I'm Canadian, and I'm feeling it. Economically speaking, we can't heal our economy without you! This is crazy to watch!

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