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Madoff victim suicides

A FORMER British soldier has killed himself after losing his life savings in the alleged US$50 billion fraud run by Wall Street financier Bernard Madoff. William Foxton, 65, who had served in the British Army and recently worked as a defence contractor in Afghanistan, died from a single bullet wound to the head in the southern English port city of Southampton on Tuesday, police said on Friday.

"A pistol was recovered at the scene. Police do not believe the death to be suspicious," a police statement said.

News reports said his death was a suicide and quoted his son, Willard, as linking it to the loss of his life savings of close to 1 million pounds (US$1.45 million) in the alleged Madoff fraud.

The BBC's Website said Foxton had invested his life savings in two Austrian-based hedge funds, but shortly before his death he discovered both funds had been closed and their funds invested with Madoff.


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