+- Mock (https://mockforums.net)
+-- Forum: Serious Shit? (https://mockforums.net/forum-4.html)
+--- Forum: Assholes In The News (https://mockforums.net/forum-10.html)
+--- Thread: bernard madoff's son hangs himself (/thread-4527.html)
bernard madoff's son hangs himself - Lady Cop - 12-11-2010
this is sad. as far as i'm concerned, his father killed him. he should die in a fire screaming for help. sources said that Madoff hanged himself using a black dog leash and was found by his father-in-law.
His death occurred on the second anniversary of his father's arrest.
FUCK... kid was in next room. that's just WRONG.
law enforcement officials, speaking on condition of anonymity because they weren't authorized to speak publicly about the death, said that Mark Madoff's wife Stephanie, who is in Florida with another son, became concerned about her husband after he sent an e-mail to her Friday night or early Saturday morning that someone should check on the 2-year-old child with him.
She asked her father to check on the home, where he found Madoff's body; the child was sleeping in a bedroom unharmed. A dog was also found in the apartment, the officials said.
New York (CNN) -- Mark Madoff, 46, the son of convicted Ponzi-schemer Bernard Madoff, was found dead in his Manhattan apartment Saturday morning of an apparent suicide, according to a law enforcement source.
Madoff's body was discovered by a male 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.
Police investigators were at Madoff's apartment to examine the circumstances surrounding his suspected suicide. A medical examiner will conduct an autopsy to determine the exact cause of death.
Madoff's death occurred on the second anniversary of his father's arrest.
"Mark Madoff took his own life today," Madoff's attorney Martin Flumenbaum said in a statement. "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 is currently serving a 150-year prison sentence for masterminding the largest Ponzi scheme in U.S. history. Madoff bilked investors out of $50 billion by masquerading his investment firm as legitimate when it was nothing more than a front. He used funds from new investors to send payments to his more mature investors, falsely portraying them as proceeds from investments, when they were actually stolen money.
The 71-year-old Madoff pleaded guilty to the charges in 2009 and is now incarcerated at the Butner Federal Correction Complex, a medium-security prison in North Carolina. Madoff is scheduled to be released on Nov. 14, 2139.
Bernard Madoff's criminal activities have spawned a tidal wave of civil actions against Mark Madoff, his mother, siblings and hundreds of other defendants, accused of profiting off the Ponzi scheme by withdrawing more money from Madoff's fund than they invested, money they presumably thought was investment income.
Irving Picard, the court-appointed trustee in charge of recovering and distributing Madoff's assets, has filed a slew of lawsuits in U.S. Bankruptcy Court in Manhattan over the past week against some of Madoff's victims.
The defendants include JPMorgan Chase, HSBC, UBS, an Austrian banker, and two CPAs (and their families) who are accused of knowing about the fraud but covering it up and profiting from it.
The majority of Madoff's victims did not invest directly in his firm. They invested in third-party feeder funds, and therefore don't qualify for the financial protections extended to direct investors.
So far, 16,394 claims have been filed by investors who claim to have lost money.
The majority of the claims -- 13,054, or nearly 80% of the total -- have been denied, because the investors were invested through feeder funds.
Mark Madoff, who reported his father to authorities the day after he confessed his fraud to them, has never been criminally charged in the investigation that has snared a half-dozen Madoff employees. He and his brother Andrew have said they were unaware of their father's crimes. But they have been remained under investigation and been named in multiple investor lawsuits.
Mark, on the right:
RE: bernard madoff's son hangs himself - Lady Cop - 12-11-2010
madoff should hang himself too. i hope he is weeping bitter tears for his son. and all the people he ruined. greedy bastard.
NEW YORK (CNNMoney.com) -- Two years after the arrest of Bernard Madoff, the fallout from his sweeping Ponzi scheme continues to wreak havoc on thousands of victims, whose lives were destroyed by the gargantuan scam.
Bernard's son Mark is the latest casualty. On Saturday -- the second anniversary of the Bernard Madoff's arrest -- his son Mark was found dead in an apparent suicide in his Manhattan apartment. Mark Madoff's father-in-law found him hanging from a ceiling pipe while his two-year-old son slept alone in another room, according to the NYPD.
"Mark was an innocent victim of his father's monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo," said Martin Flumenbaum, an attorney representing Mark and his brother Andrew.
Even some of the burned investors see Mark Madoff as his father's latest victim.
"I have nothing to say about Mark Madoff's death other than, if it was suicide, that is a sad and unexpected consequence of [his] father's fraud and deceit," said Peter Leveton of Boulder, Colo., a 'third-party' investor working with other victims to try and recoup their losses.
Madoff's immediate family is paying a heavy price for the sins of the father, even though they claim ignorance of the fraudulent machinations that funded their opulent lifestyles.
Those claims haven't protected them.
Mark and his brother Andrew, both former executives of the firm, as well as their mother Ruth and other family members have been sued for $69 million by the court-appointed trustee in the Madoff asset recovery. Mark and his brother were also the targets of a federal criminal investigation, though they haven't been charged.
Thousands of lives have been shattered in the wake of Madoff's infamous fraud. Most of his victims didn't even know who he was until the arrest.
Wiped out by Madoff
Irving Picard, the trustee appointed by the federal Bankruptcy Court in Manhattan to recover and distribute Madoff's assets, has identified 15,751 legitimate claims from former investors in Madoff's firm, which was nothing more than a front for a long-running but unsustainable pyramid scheme.
Bernard Madoff continued his charade for decades, providing fraudulent financial statements to victims, leading them to believe that he was a market mastermind who'd increased their wealth many times over.
He provided multi-million dollar payments to some investors, claiming they were returns from successful investments. But in reality, these so-called returns were stolen from other duped investors who had joined Madoff's scheme late in the game. The new money, swindled from fresh victims, was used to keep the mature victims ignorant of what was actually going on.
The legitimate claims from victims, many of them elderly retirees, add up to nearly $5.9 billion, according to Picard.
RE: bernard madoff's son hangs himself - username - 12-11-2010
Ugh. I'm suspicious by nature and I can't help but wonder if he did know or was involved in his father's scheme but...presuming innocence, that's terribly sad.
RE: bernard madoff's son hangs himself - Carsman - 12-11-2010
Conscience is mightier then the sword!
(Seems Bernie doesn't have one)
RE: bernard madoff's son hangs himself - Lady Cop - 12-12-2010
FOX
Bernie Madoff could be barred from attending his son Mark's funeral, according to rules at the North Carolina prison where he's serving his 150-year sentence, the New York Post reported Sunday.
According to the Inmate Handbook at the medium-security Butner Federal Correctional Institution where Madoff is currently incarcerated, supervised furloughs to attend funerals of "immediate family members" are available only to inmates with two years or less pending on their prison terms.
"Furloughs are a privilege, not a right, and are only granted when clearly in the public interest," the handbook says.
A white-collar felon typically can receive an emergency furlough to attend a funeral, said Ed Bales, managing director of Federal Prisons Consultants, "but this is a whole different ballgame."
"I would question whether they'd grant him a furlough because of heightened publicity," Bales said. "He could be a target. He could be shot."
If Madoff is granted permission, he'd be escorted by federal marshals, paid for by his family.
Bureau of Prisons spokeswoman Traci Billingsley said Saturday she didn't have specific information on whether Bernard Madoff had been informed of his son's death or would be allowed to attend a service. In general, she said, inmates are informed of a relative's death as soon as the institution is made aware of it.
His blood is on his father's hands.
Ruth Madoff is blaming her jailed-crook husband, Bernie, for the grisly suicide of their eldest son, Mark, biographer Jerry Oppenheimer told The Post yesterday.
The distraught mother believes Mark "would not have died if it weren't for what [Bernie] had done," the author of "Madoff With the Money" said, quoting a family friend.
"Her wrath is aimed at her husband."
RE: bernard madoff's son hangs himself - Maggot - 12-12-2010
How many people commited suicide because of Bernie? A killer of a different sort for sure.
RE: bernard madoff's son hangs himself - Lady Cop - 12-13-2010
(12-12-2010, 05:45 PM)Maggot Wrote: How many people commited suicide because of Bernie? A killer of a different sort for sure.
Other Madoff-related suicides
Dec. 17, 2008 — HSBC banker Christen Schnor, 49, hanged himself in a five-star hotel room in London a week after his company said $1 billion of the bank’s money was at risk because of Madoff’s scheme.
*
Dec. 22, 2008 — French hedge-fund manager Thierry de la Villehuchet committed suicide in New York City after losing $1.5 billion to Madoff.
*
Feb. 10, 2009 — Former military adviser William Foxton shot himself to death near his home in Southampton, England. He could not tolerate the shame of being in financial straits after losing his life savings to Madoff’s Ponzi plot.
RE: bernard madoff's son hangs himself - Duchess - 12-13-2010
Jesus.
I wonder if it pains him to see what he has caused. I don't think he'll be allowed to attend his son's funeral & that's as it should be.
RE: bernard madoff's son hangs himself - Lady Cop - 12-13-2010
i don't know yet when funeral is, but bernie will not be attending according to a CNBC report.
he's probably afraid of being assassinated. by his wife.
RE: bernard madoff's son hangs himself - aknow - 12-13-2010
I think he was murdered.
Billions of reasons for this to happen.
And when the police (just my opinion) say it's an open and shut case, I suspect a homicide. I believe entirely that he and the other sibling and mom were fully aware of hubbies shenanigans.
Yeah, he was offed.
RE: bernard madoff's son hangs himself - Lady Cop - 12-15-2010
i respectfully disagree Aknow, this was his third or fourth suicide attempt by similar (hanging) means.
and if someone killed him, i think there would have been signs of a struggle in the room, that has not been reported.
i do think he was a chickenshit to do it with his 2-year-old just feet away.
there will be no funeral, just cremation, probably today.
edit later to add:
NY Post
In her first words since her husband Mark Madoff committed suicide on Saturday, his widow said today that his body was cremated and that his death has left her "devastated."
Stephanie Madoff said in a statement that a private gathering is planned in his memory.
Madoff’s body was claimed from the morgue by a funeral director on Tuesday, although no wake or funeral was held.
In the statement, she said Madoff had been cremated and said there would be a private memorial service "later this week at an undisclosed location."
She also said she appreciated the expressions of "heartfelt sympathy and support she had received" from people who knew her husband.
Martin London drives while a woman believed to be Stephanie Madoff is seen through the widow.
"I will miss and love him forever," she said.
The 46-year-old Madoff was the son of imprisoned financier Bernie Madoff, who confessed to running a massive Ponzi scheme.
"My husband Mark took his own life," said Stephanie Madoff, "and regardless of what you feel about my father-in-law and his monstrous crimes, Mark's children are innocent victims and this is tragic for them. I am devastated and now raising two small children alone."
She added, "I ask that you please show decency and understanding toward all of Mark's children and allow us to mourn in private."
RE: bernard madoff's son hangs himself - Duchess - 12-15-2010
I think people who do this kind of thing are so self involved but I do have compassion for them. They must feel hopeless and not just for this moment but for their future too. That's sad.
Selfish bastard.