L'Oreal Heiress Had Money Invested With Madoff

Another fashionable victim has been added to the list of those who have been burned by warlock investor Bernie Madoff. Joining the ranks of the Vittadinis and Nine West founder Jerome Fisher is 86-year-old L'Oreal heiress Liliane Bettencourt. She had part of her $22.9 billion fortune invested in Madoff's Ponzi scheme, and she did so through French investor Thierry Magon de la Villehuchet, who was found dead in his office yesterday in an apparent suicide. He is thought to have lost approximately $1.9 billion of his clients' funds through Madoff; no word on how much of that money was Bettencourt's. Scary, sad stuff. [Bloomberg]

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Filed Under: bernard madoff, bernie madoff, business, crimes of fashion, l'oreal, liliane bettencourt

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