BULLETIN UPDATED 11:51 A.M. ET (U.S.A.): Mark Madoff, the older of Ponzi swindler Bernard Madoff’s two sons, has been found dead in New York on the second anniversary of his father’s arrest, the New York Times is reporting.
The death was the apparent result of a suicide by hanging, the newspaper reported. Mark Madoff’s body was found this morning in his Manhattan apartment.
“Mark Madoff took his own life today,” said attoney Martin Flumenbaum in a statement released on BusinessWire. “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 confessed his scheme two years ago today, ushering in an era of unprecedented Ponzi scheme investigations and the unmasking of so-called “mini-Madoffs” in businesses large and small across the United States.
Flumenbaum is a partner at Paul, Weiss, Rifkind, Wharton & Garrison. Flumenbaum represents Mark Madoff and Andrew Madoff, Bernard’s Madoff’s youngest son.
Mark Madoff was 46. He had not been charged with a crime. Neither has Andrew Madoff. Lawsuits have been piling up around the massive Bernard Madoff swindle.
See story in the Times.