Today is the second anniversary of the arrest of Berne Madoff. This morning Madoff’s eldest son, Mark, was found dead in the living room of his Manhattan apartment.
Every suicide is a tragedy. One sad detail from this one, Mark’s two-year-old son was asleep in an adjacent room. From the NYTimes:
The steps that led to [Bernard Madoff’s] arrest began when [Mark] and his brother, Andrew, confronted their father over his plans to distribute hundreds of millions of dollars in bonuses to employees months ahead of schedule.
According to documents filed by the F.B.I. at the time of the arrest, that meeting led to a private conversation on Dec. 10, 2008, in which Bernard Madoff told his sons that their entire lives — all the wealth and success the family seemed to possess — were based on a lie. His apparently lucrative money-management business was nothing but an immense Ponzi scheme, and it was crumbling under the relentless pressures of the financial crisis of late 2008.
Mark and his brother immediately consulted a lawyer and were advised they had to report their father’s confession to law enforcement. They did so, and the following morning their father was arrested at his Manhattan penthouse.
Neither brother has ever been charged with a crime. For the anniversary but before the death was discovered, the WSJ published a piece on how some of the players from Bernard Madoff’s world are faring. About Mark:
“Mark remains unalterably bitter about his father’s deception and the injury his father has caused,” said a spokeswoman for the two men. “Andy was also deeply impacted by his father’s deception.”
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.
The 162 page list of Madoff’s victims. A June NY Magazine profile of Bernie Madoff’s time in prison suggests he has little remorse for those victims and has, instead, become something of a prison hero for swindling them out of $65 billion.