Too bad. More greed fallout.
Madoff's son commits suicide, source saysDecember 11th, 2010
Mark Madoff, the son of Ponzi schemer Bernard Madoff, was found dead Saturday in his New York City apartment of an apparent suicide, according to a law enforcement source.
Madoff's body was discovered by a family member around 7:30 a.m., the source told CNN. His body was fully clothed and hanging in the living room, the source said.
His death occurred on the second anniversary of his father's arrest.
Bernard Madoff was convicted of operating a Ponzi scheme and defrauding thousands of investors of as much as $65 billion. He pleaded guilty and was sentenced to 150 years in prison this year. Prosecutors have said it was the largest investor fraud committed by a single person.
Mark Madoff worked as a broker at his father's firm. An investor filed a $900 million lawsuit Friday against him, his brother Andy and others associated with the firm. They also under a federal criminal investigation.
The Wall Street blog Dealbreaker reported Friday that Mark Madoff was frustrated to the point of tears at his inability to get hired at another investment firm.
Mark Madoff put his Nantucket home on the market in June for $7.5 million, the New York Times reported. He bought the house for $6.5 million in 2008, the paper said.
In March, Mark Madoff said in an email that he's "creating a small research boutique ... one of the projects will [be] a news round-up that captures stories from most major publications," Dealbreaker reported. The venture was called Strategic Research Advisors. Its website yields little information.
http://news.blogs.cnn.com/2010/12/11/madoffs-son-commits-suicide-source-says/?hpt=T1&iref=BN1
