Politics | 12/24/2008 12:03 pm
L'Oréal Liliane Bettencourt Invested Part of Her Billions in the Madoff Investor Found Dead Yesterday

Liliane Bettencourt, heiress to the L’Oréal fortune and one of the world’s wealthiest women, has fallen victim in Bernard Maddoff’s alleged Ponzi scheme.
Two people familiar with the matter told Bloomberg that Bettencourt, 86, entrusted part of her $22.9 billion fortune to Madoff, who "lost" an estimated $50 billion this year. Bettencourt, the principal shareholder of the cosmetics company, was reportedly the first investor in a fund managed by Access International Advisors, the company co-founded by Ren-Thierry Magon de la Villehuchet, who was found dead in his Manhattan office yesterday. Police said De la Villehuchet, 65, likely killed himself.
Bettencourt, usually a private person, has been making headlines lately about a bitter fued between her daughter and photographer friend. She’s now one of many bold-faced names, including Steven Spielberg and Nobel laureate Elie Wiesel, who have lost their hard earned money in the Madoff dust-up. As the investigation continues, it’s likely we’ll learn of more famous figures to have fallen victim.
"More high-profile names who have been victimized by Madoff will start to become known now," Ron Geffner, who represents hedge funds at the New York-based law firm Sadis & Goldberg, told Bloomberg. "There’s a strong sense of anguish, fear and distrust."























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