PALM BEACH: Billionaire Madoff pal Jeffry Picower drowns; wife Barbara Picower left penniless?

With her husband Jeffrey Picower dead from an apparent heart attack while swimming in his pool at his luxury beach side mansion in Palm Beach, Barbara Picower must be nervous as hell. And that is because her philanthropist husband was under the suspicion of the Madoff trustees, and was being sued for practically his entire fortune to the tune of $7.2 billion dollars. Says Reuters:

The trustee handling the Madoff fraud case, Irving Picard, said in court documents filed in U.S. Bankruptcy Court in New York last month that Picower, listed as one of the 400 wealthiest Americans by Forbes magazine, was complicit in the fraud. The trustee had sued Picower to collect $7.2 billion.

This can’t but leave Barbara with a colossal mess on her hands. Clean though they may be, these hands may come up empty once Jeffry is buried and the bankruptcy trustees get their way. The first thing they will probably move to do is put a lien of some sort of ALL assets owned by Picower to avoid probate. And if he had a will, to tie the hands of the executors pending the outcome of their suit.
Barbara will likely suffer the same fate as ALL the trophy wives of all these men who have been busted in so many financial schemes in recent months. She may have been better off  if she had divorced him a few years back and gotten her equitable distribution then. Boy.