Bernie Madoff's son found dead of apparent suicide

#2
#2
Too bad so sad. Thats another who wont get a chance to f*** others. You have any brothers or sisters willing to make that leap? Let us pray so.
 
#3
#3
I tend to believe they found evidence he knew of the ponzi scheme earlier and had hid money and were going to go after him, and he decided to commit suicide.
 
#6
#6
U.S. Eyes Madoff Kin as Probe Grinds On - WSJ.com

Federal prosecutors are ratcheting up pressure on one of Bernard L. Madoff's former "back office" employees to cooperate with their investigation as they have continued in recent months to scrutinize his brother and sons, according to people familiar with the situation.
The former longtime employee, 62-year-old Annette Bongiorno, was arrested last month and accused by prosecutors of fabricating account documents reflecting fraudulent trades and securities fraud, among other offenses. She faces up to 75 years in prison on the charges. Ms. Bongiorno, who spent several days in jail after her arrest, has been trying to post $5 million bail set by the judge so she can remain free pending trial.
In addition to Mr. Madoff, seven people—including his top lieutenant, Frank DiPascali—have been criminally charged since the Ponzi scheme collapsed two years ago. None of Mr. Madoff's family members have been charged by authorities. Mr. DiPascali pleaded guilty to fraud charges last year.
Mr. Madoff's brother, Peter, the firm's compliance chief, and his sons, Mark and Andrew, who held other high-level positions in the firm, have been scrutinized by prosecutors for possible tax-fraud charges, The Wall Street Journal reported in February.
The investigation of Mr. Madoff's Ponzi scheme is "very much ongoing," Preet Bharara, the U.S. attorney in Manhattan, said after the arrests of Ms. Bongiorno and another former employee, JoAnn "Jodi" Crupi. He said his office was committed to ensuring that "all of those who are criminally responsible for this fraud will be held accountable." A lawyer for Ms. Crupi, who was accused of conspiracy to commit securities fraud, falsifying records and other charges, said she would fight the allegations.
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#7
#7
VOLnVEGAS said:
Too be honest, I dont think he knew a thing.
RIP
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I don't know. As much education as his son had in finance, it's hard for me to believe he never had a conversation with his dad, about how he was able to return 10% a year regardless of how the market performed in general. It's hard for me to believe his son wouldnt know it would have to be a scam.
 
#8
#8
Mark Madoff owed his parents $22 million, and Andrew Madoff owes $9.5 million. There were two loans in 2008 from Bernard Madoff to Andrew Madoff: $4.3 million on October 6, and $250,000 on September 21.[43][44] Andrew owns a Manhattan apartment and a home in Greenwich, Connecticut, as did Mark[23] prior to his death by apparent suicide on the second anniversary of his father's arrest.[45]

Following a divorce from his first wife in 2000, Mark withdrew money from an account. Both sons used outside investment firms to run their own private philanthropic foundations.[23][46][47] In March 2003, Andrew was diagnosed with mantle cell lymphoma and eventually returned to work. He became chairman of the Lymphoma Research Foundation in January 2008, but resigned shortly after his father's arrest.[23]

Peter and Andrew Madoff remain the targets of a tax fraud investigation by federal prosecutors, according to The Wall Street Journal. David Friehling, Bernard Madoff's tax accountant, who pleaded guilty in a related case, is reportedly assisting the investigation. According to a civil lawsuit filed in October 2009, trustee Irving Picard alleges that Peter Madoff deposited $32,146 into his Madoff accounts and withdrew over $16 million; Andrew Madoff deposited almost $1 million into his accounts and withdrew $17 million; Mark Madoff deposited $745,482 and withdrew $18.1 million.[48]
Sheryl Weinstein, former chief financial officer of Hadassah, disclosed in a book written to recoup her investment losses that she and Madoff had an affair more than 20 years ago. As of 1997, when Weinstein left, Hadassah had invested a total of $40 million. By the end of 2008, Hadassah had withdrawn $140 million from an account valued at $90 million. At the victim impact sentencing hearing, Weinstein testified, calling him a "beast". [49][50]
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Bernard Madoff - Wikipedia, the free encyclopedia
 
#9
#9
cheering the suicide of anyone is pretty sick stuff. Hope you never have to live through it
 
#10
#10
utvolpj said:
cheering the suicide of anyone is pretty sick stuff. Hope you never have to live through it
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Amen!:hi:

Very difficult situation for the family left behind. I had a cousin that was my age, married with 2 kids that did.
 
#11
#11
How selfish. I feel bad for his family. Especially his young children.
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#12
#12
VolGal423 said:
How selfish. I feel bad for his family. Especially his young children.
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He had gotten deep into drugs and alcohol. On top of debt related to that, and some unrelated.

He had help, and refused to change for those willing to help. Life remained difficult for him and his family, and he eventually quit. Leaving his troubles for someone else to deal with.
 
#15
#15
BeecherVol said:
He had gotten deep into drugs and alcohol. On top of debt related to that, and some unrelated.

He had help, and refused to change for those willing to help. Life remained difficult for him and his family, and he eventually quit. Leaving his troubles for someone else to deal with.
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That's very sad. I was talking about Madoff but sad none the less.
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#17
#17
Just my opinion, I doubt he knew. You are right that he was a very educated man, and knew the returns that they were realizing, was not the norm. But, plenty of hedge funds had great returns as well. Sometimes, the black and white is really the black and white.'

Just an opinion, and my opinions are usually very different than most here.

RIP
 
#18
#18
Billy Costigan said:
I can't find anything googling that his son was having problems with drugs and alcohol. Hopefully the poster who just up and said that will provide a link.
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I believe he was speaking in regards of a cousin/family member of his that committed suicide. Not Madoff.
 
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