Posted on 12/11/2010 7:36:07 AM PST by Ladycalif
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.
(Excerpt) Read more at nytimes.com ...
The good news, he died just in time for his heirs to beat an increase in the estate tax...
I hope he made provision for people to find the two-year old before he did it. I remember an 80+ friend of my father’s years ago who lived in a marginal neighborhood and had little left in life but his love of his car. His car was then stolen by lowlife young trash who needlessly beat him badly in the process. He went home, wrote a long note of thanks to his family, left a phone message for a nephew to stop by but only the next day and shot himself in the interior of the house with the doors locked, so that no one would be inconvenienced or hurt. He didn’t kill himself; the rotted scum that beat him up did.
I heard that on the news. I cannot imagine why he would do it with the child in the apartment.
http://online.wsj.com/article/SB10001424052748703727804576011451297639480.html?mod=googlenews_wsj
Mark Madoff tried unsuccessfully for a few months to get a job in trading, then turned to working to develop new applications for iPads, according to one friend who spoke with him earlier in the year.
(snip)
Mark Madoff, 46 years old, lives in Manhattan’s Soho neighborhood with his wife, Stephanie, who changed her last name from Madoff to Morgan after Bernard Madoff’s arrest. The couple bought a $6.5 million home in Nantucket, Mass in mid-2008. It’s currently for sale, according to a person familiar with the sons’ finances.
(snip)
Neither has talked with his father or mother in two years, mostly out of personal choice and also because of legal sensitivities, a person familiar with the matter said. Mark Madoff recently has been using an email address that doesn’t include his first or last name, a friend noted.
He and his wife may have been separated. I read that she wanted to change her last name and that of their children as it was so embarrassing to be a member of the Madoff family.
Some call it karma, some call it fate.
The sins of the father shall be visited upon the son.
How we live our lives, affects the lives of those we love.
What goes round, comes round. Written in the stars.
The play of the cards. Oh what a tangled web we weave
when first we practice to deceive. . .
No, he did not do the right thing. His father, his brother and he all knew that their scam was about to implode. So they agreed that the father would claim he acted alone and that the sons would turn him in to avoid prison themselves. That was the deal, and a very cynical and amoral one at that.
“If they were Republican, like say Jack Abranoff, every other word preceding the name would have been “Republican”.”
So True.
Exactly.
The separation and name changes were all orchestrated by the Madoff lawyers to try to insulate the brothers from the charges. But the brothers (and possibly the wives) knew what was going on and were on their way to being indicted by the IRS for tax fraud and other potential charges very soon. Their assets have been frozen and they are part of the civil recovery actions by the by recovery trustees.
The man was in a awful situation and driven to madness .
God bless him and his wife and kids.
“...With him in the apartment was his 2-year-old child, said sources....”
So this selfish, pathetic coward offs himself, with his little boy in the apartment with him...that’s just wonderful. Just f***ing great...Way to go, “Dad”...
Please pray for this little kid, so that he has no memory of the horror of it and can grow up to lead somewhat of a normal life.
This world is full of jerkoffs...and it’s the kids that always pay the price because of the jerkoffs... Damage to ourselves, well, that’s the way things go...but damage to kids BECAUSE of us? That’s unacceptable. Sick to my stomach thinking of it...
He had immunity from the Feds. The problem was that the civil suits against him would have deservedly left him penniless. Just a couple of days ago, one of his father’s friends was forced to turn over $625 million of ill-gotten gains. He knew he was a couple of hearings away from destitution.
Bernie's story was that he was the only family member that knew his business was a scam.
I have always doubted this, but I don't really know.
Bernie knew the house of cards was collapsing. If he wanted his sons to be protected and not live out their lives in prison (and separated from Bernie's grandchildren) then there had to be a story.
The story of Bernie's "confession" and the subsequent call to the police by his son would be easy for the Madoffs to contrive.
I have always assumed that this is what happened, but as I've said I don't really know.
The brothers and wives were/are on their way to criminal indictment for tax fraud and possibly more. They knew what was going on and it was only a matter of time until they were going to be arrested and charged.
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 worldThousands of lives around the world, huh? Does anyone here know *anybody* personally whose life was shattered? This is a disgusting display of partisan axegrinding by the Slimes on the back of a tragic event. Thanks Ladycalif.
The other suicides were of clear-cut accomplices who were looking at jail time. Undoubtedly, the younger Madoff was among the many who knew and didn’t want to know. It stated he did not work in the part of the company that was involved in the scheme. It is a tragedy that Bernie Madoff had made his reputation quite legitimately before he ever started this ponzi scheme. I still don’t understand how otherwise intelligent people can do this, knowing that pyramids must always collapse eventually.
Anyone remember Martin Frankel in the 90’s?
They do not have immunity from the Feds for the criminal tax fraud charges.
ping
Given the way the company was structured, I don’t see an easy way for the sons not to know.
I personally think Ruth knew as well as Bernie’s two female helpers.
I’m not convinced the wives knew. Maybe, maybe not.
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