A hedge fund executive who lost billions to notorious Ponzi schemer Bernie Madoff jumped to his death Monday in an apparent suicide at a New York City hotel.
Charles Murphy apparently jumped to his death shortly after 5 p.m. at the luxurious Sofitel Hotel in midtown Manhattan. Stunned witnesses told police that they saw a man in a dark business suit leap from the 24th floor and land on a fourth floor terrace.
He was a Harvard Law School graduate who recently worked for Paulson & Co. During the 2008 Madoff scandal, he worked for the Fairfield Greenwich group, a high-stakes hedge fund that lost $7 billion in the scam.
Murphy's death is a sobering reminder that despite Madoff's 2009 conviction and 150-year prison sentence, the impact of his crimes is still reverberating in the financial world.