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Russell Armstrong

Business Associate Commits Suicide

24 Hours After Hanging

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

0826_russell_armstron_alan_schram_ex

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.


188 COMMENTS

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121.

Laurie    

Let me guess....Bravo TV killed him too. Cowards.

1061 days ago
122.

Julia    

Sounds like a couple of assassinations to me!!

1061 days ago
123.

JB    

Nice picture. Subtle use of hearts and symbols of love. Are you implying that they were lovers? Are you suggesting that one suicide leads to another heartbroken suicide? Are you insinuating that people lead double lives in Hollywood? This picture is worth a thousand questions.

1061 days ago
124.

lame    

Money trouble? Still living high on the hog to me... god forbid these over compensated bottom feeders ever live humbly... sure he took his life, how sad but DUDE humble yourself. Would it be so bad to live in an apt? Give me a break

1061 days ago
125.

SJ24    

Murder-suicide? Who hangs themselves with an extension cord? Sounds like no thought or preparation, most suicides are contemplated beforehand. An impromptu murder though, an extension cord laying on the floor is within arms reach and comes in handy.

1061 days ago
126.

cali    

In a strange twist to The Real Housewives of Beverly Hills star Russell Armstrong’s suicide it was just revealed that Russell’s business partner, Alan Schramm, shot and killed himself outside of his car on Mulholland Dr. on August 16, just 24 hours after Russell’s body was found on August 15.

TMZ broke the story after “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” at Russell Armstrong’s memorial service


The two were connected through an elite investment group called Tiger 21, which is essentially a social network of high-net-worth investors who meet together to brainstorm and exchange investment advice. From the Tiger 21 web site:

In an atmosphere of complete confidentiality, our members learn about investments and engage in candid discussions about a wide range of issues relevant to high-net-worth individuals. They enhance their expertise via active collaboration with peers, participate in portfolio defense sessions, challenge themselves to better investment decisions, and along the way build fulfilling business and personal relationships in a community of like-minded individuals.

The annual membership fee is $30,000 and the minimum net worth for membership was between $10 million and $100 million of investable assets in 2004, so there’s no telling what it is now or how Russell Armstrong was able to gain membership.

Alan was a well-respected financial expert who was managing partner of Wellcap, an L.A-based hedge fund, as well as a financial blogger for The Huffington Post. Here is his bio from their site:

“Alan Schram is the managing partner of Wellcap Partners, a hedge fund based in Los Angeles. He founded Wellcap Partners in 2000 and has been managing investment portfolios for private and institutional investors since 1997. Prior to that he co-founded Sitestar Corporation, a technology investment company that acquired several Internet service providers in secondary US markets and became a publicly traded company in 1999. Mr. Schram served as an officer in the Israeli Air Force and is a veteran of the Gulf War. Graduated from UCLA’s Anderson School of Management, Executive Management Program.”

Though there has been no direct connection between the two suicides, there are already theories floating around the web – most of which centered around the alleged tell-all book about Russell Armstrong and his wife Taylor Armstrong. Is it possible the two were involved in some sort of shady business venture? Hotmommagossip is even speculating that Alan Schram and Russell Armstrong may have been gay lovers, which would jibe with RadarOnline’s reports of Russell being bisexual. But, let me point out that this is all speculation at this point! It could very well be that the two friends and business partners’ suicides being so close to each other was purely coincidence. I’m sure we will know more soon enough.

1061 days ago
127.

Pimpcessa    

Well, I guess Taylor must have held the gun to his head and made him join this group that costs 30frigginthousand bucks a year just for a membership fee, also right?? I really think it's so ridiculous to blame her for his suicide just as stupid as blaming her for spending all his money. This guy, clearly, had a hard time understanding when enough was enough as far as spending. Taylor may not have even had a clue as to how bad their finances were. Lots of women with wealthy husbands don't know anything about the real financial sitch.

1061 days ago
128.

double s    

Let me guess this is the shows fault too

1060 days ago
129.

nanci    

they probably was doing something illegal or had some serious health issue, and didnt want all the rotten stuff to come out, so they went out the best they thought how. We never know what is going on in people's lives to make them come to that point.

1060 days ago
130.

Rachel    

I want to know more about this story. Somehow I think Taylor is partly to blame. Maybe she would have gone to the press and said he was gay. Damn. She herself said their marriage was 80% business.

1060 days ago
131.

grannyj    

INSANE

1060 days ago
132.

cookie    

wow, these fabulous LADIES have really given us a show. What do they have in store 4 us on the next season of REAL HOUSEWIVES OF BEVERLY HILLS. You girls are so special. Including you Andy.

1060 days ago
133.

axe    

I question all "suicides" I read about in the news anymore. Especially with the white collar types.

1060 days ago
134.

Tambria    

And I suppose somehow this is Bravo's fault too?

1060 days ago
135.

Bill Leslie    

Yay! We should strongly encourage this trend for all worthless POS reality "stars" and their dodgy associates.

1060 days ago
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