NEW YORK — The older son of infamous Ponzi scheme architect Bernard Madoff was found dead early Saturday, after he apparently hanged himself on the second anniversary of the multi-billion dollar scam that victimized thousands of celebrities, charities and average investors.
The New York City Police Department said investigators found the body of Mark Madoff, 46, in his condo in Manhattan's expensive Soho neighborhood after receiving an emergency call around 7:27 a.m.
"Mark Madoff took his own life today," said attorney Martin Flumenbaum, who has represented the apparent suicide victim and his younger brother, Andrew in the sprawling investigation of the scam. This is a terrible and unnecessary tragedy. Mark was an innocent victim of his father's monstrous crime."
Police said the New York City Medical Examiner's office would conduct an autopsy to confirm Madoff's cause of death.
It was the Madoff sons who alerted authorities in December 2008, after they said their father had confided the scheme was on the verge of collapse. Although the brothers consistently have maintained they were blameless, investigators have focused on them because they worked closely with their father in the family's financial businesses.
Flumenbaum suggested the continuing investigation might have triggered the suicide, saying Mark Madoff "succumbed to two years of unrelenting pressure from false accusations and innuendo."
"We are all deeply saddened by this shocking turn of events," said Flumenbaum.
The apparent suicide came as Irving Picard, the court-appointed trustee seeking to recover Bernard Madoff's assets on behalf of burned investors, filed a wave of lawsuits against banks and investment firms ahead of the midnight Saturday deadline for suing entities and individuals suspected of having any role in the scam. Picard earlier filed lawsuits against the Madoff sons and other family members, seeking the return of millions of dollars in alleged improper gains. Picard has accused them of negligence and breach of their financial responsibilities.
Curious onlookers and reporters gathered outside Mark Madoff's building as news of the apparent suicide spread.
Bernard Madoff, 72, is serving a 150-year term in a North Carolina federal prison after he confessed and pleaded guilty last year. He insisted he acted alone. However, federal authorities have since filed criminal charges against several of his financial lieutenants and other longtime employees.
Showing posts with label madoff. Show all posts
Showing posts with label madoff. Show all posts
Sunday, December 12, 2010
Bernie Madoff was arrested
Early this morning, two years to the day after Bernie Madoff was arrested for masterminding the largest Ponzi scheme in U.S. history, the body of his son, Mark, was found hanging by a black dog leash in the his SoHo apartment. Mark Madoff was 46-years-old.
Mark Madoff’s lawyer, Martin Flumenbaum, confirmed that his client had taken his own life adding that, “Mark was an innocent victim of his father’s monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo.”
The younger Madoff was named in a lawsuit filed in New York and London on Wednesday, for his role as a former director of Madoff Investment Securities. The complaint sought $80 million.
Mark Madoff, the older of Bernard L. Madoff’s two sons, was found dead in his Manhattan apartment on Saturday, the second anniversary of the day his father was arrested for running a gigantic Ponzi scheme that shattered thousands of lives around the world.
Mark Madoff’s lawyer, Martin Flumenbaum, confirmed that his client had taken his own life adding that, “Mark was an innocent victim of his father’s monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo.”
The younger Madoff was named in a lawsuit filed in New York and London on Wednesday, for his role as a former director of Madoff Investment Securities. The complaint sought $80 million.
Mark Madoff, the older of Bernard L. Madoff’s two sons, was found dead in his Manhattan apartment on Saturday, the second anniversary of the day his father was arrested for running a gigantic Ponzi scheme that shattered thousands of lives around the world.
Mark Madoff, son of imprisoned investment fraud figure Bernard Madoff, commits suicide
Family members found Mark Madoff in his New York apartment after he hanged himself on the second anniversary of the arrest of his father, sources say. Mark Madoff and his younger brother worked for their father but were never charged, though authorities say they continue to investigate.
The oldest son of Bernard Madoff committed suicide on Saturday morning, his attorney said.
Mark Madoff was found by family members in his New York apartment Saturday morning, according to law enforcement sources.
The sources said that Madoff hanged himself using a black dog leash and was found by his father-in-law.
Saturday is the second anniversary of Bernard Madoff's arrest in what is thought to be the largest Ponzi scheme in U.S. history.
Madoff, 46, was the head trader at his father's firm.
Mark and his younger brother Andrew Madoff, who also worked at the firm, have denied they knew about the fraud.
"Mark was an innocent victim of his father's monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo," his lawyer, Martin Flumenbaum, said in a statement.
No charges have been brought against the brothers, but authorities have said they are continuing to investigate.
In the fall of 2009 the brothers, their uncle and their cousin were sued for almost $200 million by the trustee who is collecting money for victims of Madoff.
Earlier this week the trustee filed another suit against the brothers and other family members in a British court.
The Madoff brothers reportedly went to the authorities after their father confessed his crime to them on Dec. 10, 2008. A day later Bernard Madoff was arrested.
Madoff is in federal prison in North Carolina serving a 150-year sentence.
The oldest son of Bernard Madoff committed suicide on Saturday morning, his attorney said.
Mark Madoff was found by family members in his New York apartment Saturday morning, according to law enforcement sources.
The sources said that Madoff hanged himself using a black dog leash and was found by his father-in-law.
Saturday is the second anniversary of Bernard Madoff's arrest in what is thought to be the largest Ponzi scheme in U.S. history.
Madoff, 46, was the head trader at his father's firm.
Mark and his younger brother Andrew Madoff, who also worked at the firm, have denied they knew about the fraud.
"Mark was an innocent victim of his father's monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo," his lawyer, Martin Flumenbaum, said in a statement.
No charges have been brought against the brothers, but authorities have said they are continuing to investigate.
In the fall of 2009 the brothers, their uncle and their cousin were sued for almost $200 million by the trustee who is collecting money for victims of Madoff.
Earlier this week the trustee filed another suit against the brothers and other family members in a British court.
The Madoff brothers reportedly went to the authorities after their father confessed his crime to them on Dec. 10, 2008. A day later Bernard Madoff was arrested.
Madoff is in federal prison in North Carolina serving a 150-year sentence.
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