Mark Madoff, the older of Bernie Madoff ’s two sons, was found dead in his Manhattan apartment on Saturday, according to a law enforcement official. He was 46. He was found hanged in his apartment in Manhattan’s SoHo section, according to the official.
“Mark Madoff took his own life today,” Martin Flumenbaum, said in a statement on Saturday. “This is a terrible tragedy.”
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| Mark Madoff |
Mark Madoff and his brother, Andrew, were under investigation but hadn’t faced any criminal charges in the massive Ponzi scheme that led to their father’s jailing.
Two years ago, Bernard Madoff confessed to federal investigators that his awesome money-management business was just a gigantic fraud.
Bernie's now serving 150 years in a North Carolina prison.
Since Bernard Madoff’s arrest, all the members of his immediate family have been the targets of a battery of civil lawsuits filed initially by victims of the Ponzi scheme and later by the bankruptcy court trustee pursuing assets for those victims.
Mr. Madoff had worked at his father’s brokerage firm since his graduation from the University of Michigan in 1987. A number of Mark’s oldest childhood friends from Roslyn, N.Y., invested with Madoff and lost their savings in the fraud. This destroyed those relationships and caused Mark great pain. Mark Madoff, his mother and his brother were all the subject of constant media speculation. It was always speculated that they had been involved in their father’s crime, or at least were aware of it.
Mr. Flumenbaum, Mark Madoff’s lawyer, in his statement, called Mark an innocent victim of his father’s crimes and could not handle to two years of unrelenting pressure from accusations.
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