One of Bernard Madoff's sons was found dead of an apparent suicide Saturday on the second anniversary of his father's arrest, according to a law enforcement official.
Mark Madoff, 46, was found hanged in his apartment in Manhattan's SoHo section, according to the official. WNBC's Jonathan Dienst reports Madoff was discovered by his father-in-law. His body was found hanging from a dog leash that had been fashioned into a noose and strung over a pipe in the ceiling of his living room, according to a law enforcement official. The official was not authorized to speak publicly about the case and spoke to The Associated Press on the condition of anonymity. According to the same official Mark Madoff's 2-year-old son was asleep in his bedroom at the time. A family member notified police around 7:30 a.m. Saturday. A spokesperson for the NYC Medical Examiner says depending on what time the New York Police Department releases the body - an autopsy will be performed today or tomorrow to determine the cause of death. NYPD officials have said suicide by hanging appears to be likely cause. Martin Flumenbaum of Paul, Weiss, Rifkind, Wharton & Garrison, an attorney representing Mark and Andrew Madoff, stated: “Mark Madoff took his own life today. This is a terrible and unnecessary tragedy. Mark was an innocent victim of his father’s monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo. We are all deeply saddened by this shocking turn of events.” Bernard Madoff swindled a long list of investors out of billions of dollars and is serving a 150-year prison term in North Carolina. He was arrested on Dec. 11, 2008, after confessing his crimes to his family. Madoff's sons, according to the family's attorneys, were the ones who turned him in. Mark's suicide comes two years to the day after the elder Madoff told his sons of what he had done. Ira Lee Sorkin, Bernard Madoff's attorney, told CNBC: "This is a tragedy on many levels."
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. The US attorney, FBI and IRS have been investigating the sons in connection with the Ponzi scheme. Tax fraud questions were among the key areas being explored. Any decision whether to file charges was still likely months away. The Madoff sons always denied any wrongdoing. The scandal put a harsh light on members of the family. The financier's brother, Peter, played a prominent role in the family's company. Mark and Andrew Madoff both worked on a trading desk at the firm, on a side of the business that wasn't directly involved in the Ponzi scheme. In February, Mark Madoff's wife petitioned a court to change her last name, saying her family had gotten threats and was humiliated by the scandal. Law enforcement officials told the A.P. that Mark Madoff's wife, who is in Florida, became concerned about her hu*****and after getting a communication from her hu*****and either Friday night or early Saturday morning suggesting that someone should check on their two-year-old child. She asked her father to check on the home. When he arrived, he found the two-year-old sleeping safely in his bedroom, as well as the body. A dog in the apartment was also unharmed. When reached on Saturday, an attorney for Ruth Madoff had no comment about her son's suicide. Ruth Madoff was married to Bernie Madoff for 50 years. She lost most of her wealth and is believed to be living in Florida. A year ago, the court-appointed trustee trying to unravel Madoff's financial affairs sued several relatives, including Peter, Mark and Andrew, accusing them of failing to detect the fraud while living lavish lifestyles financed with the family's ill-gotten fortune. The lawsuit accused Mark Madoff of using $66 million he received improperly to buy luxury homes in New York City, Nantucket and Connecticut. In the October, 2009 filing Madoff Trustee Irving Picard says Mark Madoff was paid $29.3m from 2001 to 2008 as Bernard L. Madoff Investment Securities LLC's company director of trading. He also is alleged to have improperly received $66.9m. Picard has not responded to requests for comment about Madoff’s suicide. When reached for comment, Ronnie Sue Ambrosino of the Madoff Coalition for Investor Protection issued the following statement: "Any death is a sad thing, but I fear that once again-the victims will lose an opportunity to find out the real story, again. Last year, when Judge Chin accepted Madoff’s guilty plea without affording us the disclosure of facts in a jury trial, the victims were also denied an opportunity to learn the truth. The pressure Mark Madoff must have been feeling to cause him to take his own life can be felt by many of the thousands of Madoff victims. In the 2 years since we found out we lost our life savings, we have endured incredible frustration and fear. To wake up and learn your life’s work has been stolen from you is monumental. Then, to find out your government (the SEC) could have avoided the debacle is even a bigger blow. Our last lifeline, SIPC, the organization we thought would cover a portion of our investment, has instead devised a way to try to get more money from the victims. Mark Madoff’s death symbolizes the many atrocities associated with the Madoff fraud."
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