Thierry Magon de La Villehuchet

René-Thierry Magon de La Villehuchet (born April 23, 1943 in Saint-Malo , † December 22, 2008 in New York City ) was a French nobleman and investment banker . He co-founded the asset management company Access International Advisors , which was found in 2008 in the uncovering of Bernard L. Madoff's investment fraud following a loss of $ 1.4 billion. became insolvent. Magon de La Villehuchet died by suicide . His official first name "René-Thierry" he always shortened to "Thierry".

Training and professional development

René-Thierry Magon de La Villehuchet came from a traditional, wealthy family in Brittany . He studied business administration in Paris and completed his MBA in 1978 . In 1982 he went to New York and worked for securities dealers. In 1987 he became head of the securities department of the US subsidiary of the French bank Crédit Lyonnais . In 1998 he founded Access International Advisors with his long-time friend Patrick Littaye. The company provided investment advice, collected money through partly self-launched funds and invested in attractively valued investments. In 2003 Magon de La Villehuchet became President and CEO of the company.

Rise, fall and death

He had good personal relationships with wealthy families in Europe, especially among the nobility . Among other things, he made Philippe Junot , the former husband of Princess Caroline of Monaco and Prince Michael of Yugoslavia partners in his society. Prince Michael had contacts with Prince Charles , who, however, decided against an offered financial commitment. Liliane Bettencourt , the daughter of the founder of L'Oreal and one of the richest women in France, also invested in the funds of Access International Advisors.

Magon de La Villehuchet was allegedly unknown to Madoff, but he was increasingly investing in his funds. At the end of 2008, 3/4 of the funds it managed were committed there. He was also heavily involved with Madoff with his own fortune. In order to achieve leverage effects , he also borrowed funds to purchase shares.

On December 11, 2008, the fraudulent background of Madoff's Ponzi scheme was discovered. The total damage is estimated at over US $ 50 billion. Magon de la Villehuchet initially tried to limit the damage it suffered by its own means. However, the scale of US $ 1.4 billion was beyond his capabilities. Seeing no other way out, he committed suicide in his office on December 22, 2008.

Private

Magon de La Villehuchet was married. He was a sailor and member of the renowned New York Yacht Club and, in France, of the St. Malo Bay Nautical Club. A few years earlier he had inherited a castle in Plouër-sur-Rance in Brittany from his uncle , which he was renovating at considerable expense.

Individual evidence

1. ↑ Thierry avait entraîné tous ses amis dans cette affaire (fr) . In: Liberation , December 26, 2008. Retrieved December 28, 2019. 
2. ↑ ^{a b} Le suicide pour l'honneur de Thierry de La Villehuchet (fr) . In: Paris Match , December 30, 2009. Retrieved December 29, 2019. 
3. ↑ Biography de Thierry Magon de La Villehuchet AIA Group ( fr ) Edubourse. Retrieved December 30, 20198.
4. ↑ Access International Advisors profile ( en ) In: Manta.com. . Accessed December 30, 2019.
5. ↑ ^{a b} Thierry Magon de La Villehuchet (fr) . In: Le Monde , December 25, 2008. Retrieved December 29, 2019. 
6. ↑ ^{a b} Suicide: Victims of the Crisis - Priceless # III. René-Thierry Magon de la Villehuchet . In: Süddeutsche Zeitung . June 7, 2009. Retrieved December 29, 2019.
7. ↑ Thierry de la Villehuchet: Madoff Investor Dies After $ 1.4 Billion Lost ( en ) In: huffpost . January 23, 2009. Retrieved December 29, 2019.
8. ↑ SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme (2008–293) ( en ) In: SEC.gov . US Securities and Exchange Commission. December 11, 2008. Accessed December 30, 2019.