Obituary: Andrew Madoff / Last surviving son of Ponzi king Madoff

April 8, 1966 - Sept. 3, 2014

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An­drew Madoff, Ber­nard Madoff’s last sur­viv­ing son, died Wed­nes­day of can­cer, years af­ter turn­ing his father in and in­sist­ing he had been duped like the rest of the world into be­liev­ing his­tory’s most no­to­ri­ous Ponzi king was an hon­est fi­nan­cier.

An­drew Madoff, 48, was “sur­rounded by his lov­ing fam­ily” when he died at a New York City hos­pi­tal from man­tle cell lym­phoma, his at­tor­ney, Mar­tin Flu­men­baum, said in a state­ment.

An­drew Madoff and his brother, Mark, both worked on the le­git­i­mate trad­ing side of their father’s Man­hat­tan firm, two floors re­moved from the pri­vate in­vest­ment busi­ness where Ber­nard Madoff car­ried out his $65 bil­lion Ponzi scheme over sev­eral de­cades.

Ber­nard Madoff, 76, was ar­rested in Decem­ber 2008. He pleaded guilty to fraud charges months later and is serv­ing a 150-year sen­tence at a fed­eral prison in North Car­o­lina. Ex­actly two years af­ter the father’s ar­rest, Mark Madoff hanged him­self in his Man­hat­tan loft apart­ment as his 2-year-old son slept in an­other room.

“One way to think of this is the scan­dal and ev­ery­thing that hap­pened killed my brother very quickly,” An­drew Madoff told People mag­a­zine last year. “And it’s kill­ing me slowly.”

An­drew Madoff was first di­ag­nosed with the rare form of can­cer in 2003 but went into re­mis­sion.

He blamed the re­lapse on the stress of liv­ing with his father’s scam. The dis­ease re­turned in Oc­to­ber 2012, and he told People mag­a­zine that he felt “blind­sided.”

An­drew Madoff had served as the chair­man of the Lym­phoma Re­search Foun­da­tion’s board of di­rec­tors un­til his father’s scheme was re­vealed.

Mr. Madoff’s death came as au­thor­i­ties con­tinue to in­ves­ti­gate what role, if any, close fam­ily mem­bers and oth­ers linked to the Madoff busi­ness had in the fraud. Sen­tenc­ings are sched­uled in sev­eral weeks for five for­mer high-level Madoff firm em­ploy­ees con­victed of help­ing carry out the fraud by con­spir­ing to de­fraud cli­ents and fal­si­fy­ing books and records.

This sum­mer, a court-ap­pointed trustee who has re­cov­ered more than half of the nearly $20 bil­lion that thou­sands of peo­ple had in­vested with Ber­nard Madoff filed a law­suit claim­ing that Madoff’s sons used their father’s busi­ness as their “per­sonal cookie jar,” ac­cept­ing sham loans, fic­ti­tious trades and de­ferred com­pen­sa­tion. It ac­cused them of know­ing about the fraud and try­ing to cover it up by de­let­ing emails dur­ing a Se­cu­ri­ties and Ex­change Com­mis­sion probe.

United States - North America - New York City - New York - Manhattan - Bernard Madoff


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