Andrew H. Madoff, son of convicted financier, dies at 48

Washington Post ^ | September 3, 2014 | Emily Langer

[Second Amendment First]

Andrew H. Madoff, who reported to authorities that his father and longtime Wall Street colleague, Bernard L. Madoff, had masterminded perhaps the largest Ponzi scheme in history, a multi-billion-dollar crime that Andrew described as a “father-son betrayal of biblical proportions,” died Sept. 3 at a hospital in New York City. He was 48.

His lawyer, Martin Flumenbaum, told the Associated Press that the cause was mantle cell lymphoma. Mr. Madoff was diagnosed in 2003 with lymphoma and suffered a relapse a decade later.

Mr. Madoff was the only surviving child of “Bernie” Madoff, a once-revered financier who is now serving a 150-year sentence in federal prison for felonies including securities fraud and money laundering, and the former Ruth Alpern.

Their elder son, Mark Madoff, hanged himself on Dec. 11, 2010, exactly two years after Bernard Madoff’s arrest. Mark and Andrew had turned their father in to officials after a tearful confession in which he revealed that his business was “all just one big lie.”

Like Mark, Andrew Madoff spent nearly his entire career at Bernard L. Madoff Investment Securities, a family-run powerhouse headquartered in Manhattan’s Lipstick building. Both sons rose to top executive ranks but steadfastly denied involvement in the scheme that their father conducted — with an unresolved degree of assistance — alongside the legitimate trading business.

[Ann Archy]

God help him. They did a very brave thing by turning in their CRIMINAL father.

[Steely Tom]

Mark and Andrew had turned their father in to officials after a tearful confession in which he revealed that his business was “all just one big lie.”

Lot of that going around.

[fieldmarshaldj]

Sad. RIP.

[GraceG]

Dead Bankers Ping???

[GraceG]

Dead Banker Ping Null?

[BeadCounter]

“Lymphoma”, seems a lot of people one reads about passing away young suffer from lymphoma.

[KoRn]

" Lot of that going around."

You got that right! It does seem to be a pattern with that. It isn't just businesses either, as it extends into the highest places within our government

Seems we lost our religion as a country, and the rule of law was inevitable to follow. We're basically a house of cards now, and there's some strong winds coming.....

[dead]

Outliving his kids while in prison. That’s a miserable Shakespearean end for old Bernie.

[sauropod]

Rest in peace, Mr. Madoff.

[sauropod]

I had the same thought. If that had happened to me, I would be quite upset at the thought that my kids had pre-deceased me.

[Mr. K]

I don’t believe they knew nothing about it...

They WORKED there, didn’t they?

[trisham]

Poor man. Rest in peace, Andrew.

[RightOnTheBorder]

Bernard L. Madoff, had masterminded perhaps the largest Ponzi scheme in history

I guess this guy never heard of Social Security.

[Bubba Ho-Tep]

God help him. They did a very brave thing by turning in their CRIMINAL father.

Bah. Bernie went quietly in return for immunity for his sons and not too much digging into their offshore accounts.Their dropping a dime on him was pure theatre. I give Bernie credit for manning up and making the best deal to protect his family in return for taking the fall for everything on himself.

[utahagen]

The Madoff sons were not involved in their father's fraudulent activity. That can now be stated as a fact. There were two sides to the Madoff business: the trading business, where the sons worked, and which was legit, and the phony money-managing business, where their father worked. The money managing side was small, separate from the rest of the firm, and completely illegal. The feds would have loved to charge the sons, but concluded — fairly early on, and, eventually, definitively — that the sons knew nothing about any illegalities until their father confessed everything to them.

[utahagen]

You're mistaken. Madoff’s sons were never granted immunity and they have had no access to any offshore accounts that Bernie may have set up. The sons were not involved in criminal activities. People who assert otherwise at this point simply do not know what they are talking about.

[Mr. K]

Thanks for the info

[Cementjungle]

seems a lot of people one reads about passing away young suffer from lymphoma.

A friend of mine (a son of Dennis Wilson of the Beach Boys) had lymphoma about 12 years ago. He did a year of treatment and has been fine since... has his own kids now even.

He's involved in a class action suit against Beverly Hills high-school, since many kids in his class had the same thing. They used to have a working oil well in the school yard there.

[Gay State Conservative]

The family who lived next door to us when I was a kid was hit hard by Madoff.They had a son my age who I lost touch with long ago (he became a physician).I would have loved to have heard an account of what happened but I very probably won't.