Tag Archives: Access International Advisors

Buck up, Walter, there’s a better way

One founder of Access International Advisors, the French feeder fund that, like Fairfield Greenwich, fed every penny entrusted with it to Bernie Madoff, tragically committed suicide last week. The remaining partner has decided to face “life’s trials” (which will probably include the courtroom variety) by living on Social Security.

“I’m going to sell everything I have and start over,” Littaye said from Brussels, adding that he planned to subsist on his French social security payments. “For Access, we’ll go to our investors over the next couple of weeks and we’ll see what they think of us.”

Littaye’s partner, Thierry Magonde la Villehuchet, chose a different course. The 65-year-old co-founder and chief executive officer of Access was found dead Dec. 23 at his office in New York. Villehuchet killed himself after it became clear he wouldn’t be able to recover the funds he and his clients invested with Madoff, his brother, Bertrand Magon de la Villehuchet, said in a Jan. 2 interview.

“I will suffer all the trials that come my way,” Littaye said. “Thierry was less passive in his outlook. He felt that he had decision-making authority over his days on Earth.”

‘Honest Imbecile’

“I don’t know yet how our correspondents will receive us,” Littaye said. “Maybe as an honest imbecile, or an honest imbecile like 40 million others, or someone duped by a fraud. I don’t know yet.”

Noel should take some comfort from his many friends who have come forward to attest to his imbecility and too dumb to have joined Madoff’s game. There’s that and the thought that, at 78, he must have really racked up his Social Security pension by now – it might go as high as $800 a month. And of course, Monica can resume her career as a garment worker.

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