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Russell Armstrong

Business Associate Commits Suicide

24 Hours After Hanging

8/27/2011 11:00 AM PDT BY TMZ STAFF


Russell Armstrong
's friend and business associate committed suicide the day after Russell's body was found hanging from a beam in his bedroom ... TMZ has learned.

Alan Schram -- the managing partner of Wellcap, an L.A-based hedge fund -- was found on August 16 outside of his car on Mulholland Drive with a gunshot to his head.  The L.A. County Coroner concluded Schram's death was a suicide.

Alan was connected with an exclusive group called Tiger 21 -- a organization of high net-worth folk who jawbone with each other about investments ... and we're told Russell Armstrong was a member of Tiger 21, even though he was clearly having money trouble.

We're also told they became friends, and during Russell's memorial, Taylor and some of the other "Real Housewives of Beverly Hills" were talking about how shocked they were that the two men killed themselves -- possibly a day apart. 

As we previously reported, Russell, who did not leave a suicide note, was in deep distress over money problems.  As for Alan, he also did not leave a note, and his money situation is unclear.


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when you choose to base your success/happiness on what's in your bank account and not the relationships you share with others...Ugh.. Why? Sounds like a sad existance to me.
If you choose a career that fulfills you - the money will come.... Btw, don't kill yourself. You take the easy way out and leave the people close to you ****tered for life. ESPECIALLY if you have children. They don't deserve the burden.

1124 days ago

Quinn Stone    

WHO CARES! Another dead spineless weasel makes the world a better place.

1124 days ago


I think Russell's wife knows more than we think. Wonder if she will ever reveal what she knows.

1124 days ago


Maybe they were lovers

1124 days ago


Definitely gay lovers

1124 days ago


Is that going to be bravos fault too!!!!!

1124 days ago


Wow, it's stories like this that make you really re-think suicide (if you're thinking about it at all). I'm sympathetic and am not one of those people who thinks suicide is 'selfish''s just that their deaths aren't going to keep the 'truth' from coming out. Better to stay on earth, suffer through the consequences of your actions & other peoples' judgment and grow to be a better person than to kill yourself and take all that unresolved angst with you. That just can't be good.

1124 days ago


Oh surprise another spoiled brat white man who would rather die than face the struggle of poverty (leaving a mansion to live in a townhouse no doubt)! His punk ass committed suicide to avoid facing a little failure. What a great way to leave your family *****!

1124 days ago


I haven't seen it yet but the answer is simple. These two are gay and had an affair with each other. They couldn't live with someone finding out and one of the skanks on the show he was on was probably going to be told via blackmail or had found by reading his texts or something like that. Gay all the way!

1124 days ago


Sounds like they both could have been murdered...

1124 days ago


you smell that? its the fresh smell of BULLS**T

1124 days ago


TMZ, please pay just a tiny bit of attention to the front-page news? Which that week was several days of massive drops in the stock market. He was a hedge fund partner -- a decade ago it cost a minimum $1 million to even get into a hedge fund. He had money problems -- his or his clients or both.

(This is also how TMZ ran that moronic story, about the same time, that Abercrombie and Fitch stock dropped ... because of that Jersey Shore guy. Right. The entire Dow dropped, Jesus Christ folks.)

1124 days ago


Why should there be a connection?

Because they were in the same club like a whole lot of other peole who stil live? This article doesn´t convince me of a connection.

1124 days ago

Johnny Wadd    

I'd check to see who took out a life insurance policy on these 2 guy's other than the immediate family, and while your at it, someone should also check on who might have pulled the same game on MJ...

1124 days ago


I heard Armstrong had shady business dealings and had gay porn in his computer. This guy was his partner in shady business dealings. They will be making a Lifetime movie out of the stuff they find out about these two. This is not a big loss!

1124 days ago
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