According to New York Times, Rene-Thierry Magon de la Villehuche, a founder of the Hedge Fund Access International Advisors, was found dead last Tuesday in his office situated at Madison Avenue Building in Manhattan. Reports said that about $1.4 billion was lost by him when he invested said amount with Bernard L. Madoff, the money messenger who alllegedly run off with a $50 billion Ponzi scheme.

One of de la Villehuchet’s former partners said that the former came from a long line of aristocratic Frenchmen, with the Magon part of his name referring to one of the most powerful families in France. His fund signed up intermediaries associated to the cream of Europe’s high society and jet set to gather clients like Philippe Junot, a French businessman and friend who is the ex-husband of Princess Caroline of Monaco.

De la Villehuchet’s death came as the swindled investors started to look for ways and means in order to possibly recoup their losses. A handful of lawsuits have already been filed by Hedge funds clients also contending that they the latter had failed to exercise their fiduciary responsibility to protect their clients.

French newspaper La Tribune reported that 65-year-old de la Villehuchet had committed suicide due to the fact that he was “unable to resist the pressures that followed the eruption of the scandal.”  Authorities told DealBook that de la Villehuchet was found having injuries to his arms, having apparently slit his wrists. However, a spokewoman for the New York City Medical Examiner told that they have not yet determined the cause of the death of the Madoff investor.