Mark Madoff, 46, the son of Wall Street’s most notorious swindler, Bernie Madoff, has committed suicide on the second anniversary of his father’s arrest, adding another chapter to the tragic family saga.
Mark and brother, Andrew, were investigated as part of their father’s elaborate Ponzi scheme, but were never charged. Their father is serving 150 years in prison for masterminding the multi-billion dollar fraud.
The days since his arrest and conviction have been devastating for the family. All of Bernie Madoff’s possessions were seized by federal authorities to help recoup some of the investor losses from the scandal.
Mark Madoff’s wife sought to legally change her and her children’s last names, according to court filing. She said their lives had become one of threats and humiliation since the scandal broke.
Although they were never prosecuted, Madoff’s brother Peter, and Mark and Andrew were sued by a trustee appointed to oversee Madoff’s firm, seeking to collect millions of dollars to pay back victims.
Mark reportedly made $66 million while working at his fathers firms and owns luxury homes in New York and Nantucket, a posh New England resort.
Her husband was found hanged around 7:30 this morning (Dec. 11) in his apartment in Manhattan’s posh SoHo neighborhood, police told the Associated Press.
Bernie Madoff was arrested on Dec. 11, 2008, after summoning his family and revealing the scam. Madoff’s sons notified authorities.