Madoff son found dead in NYC in apparent suicide

[Refugee 7]

NEW YORK (AP) — The eldest son of disgraced financier Bernard Madoff hanged himself by a dog leash in his Manhattan apartment on Saturday, the second anniversary of his father's arrest in a multibillion-dollar Ponzi scheme that swindled thousands of investors of their life savings, law enforcement officials said.

Mark Madoff, 46, was found hanging from a ceiling pipe in the living room of his SoHo loft apartment as his 2-year-old son slept in a nearby bedroom, two law enforcement officials told The Associated Press.

The law enforcement officials spoke on condition of anonymity because they weren't authorized to speak publicly about the death.

Madoff, who reported his father to authorities, has never been criminally charged in the biggest investment fraud in U.S. history, that has snared a half-dozen Madoff employees.

Mark Madoff and his brother Andrew have said they were unaware of their father's crimes. But they have remained under investigation and been named in multiple investor lawsuits accusing them of profiting from the scheme.

But a third law enforcement official said Saturday that Madoff's arrest was not imminent, and that investigators pursuing possible charges against him, his brother and uncle hadn't contacted him for more than a year. The official wasn't authorized to speak publicly about the case and spoke on condition of anonymity.

Mark Madoff killed himself on Saturday, said his lawyer, Martin Flumenbaum.

"This is a terrible and unnecessary tragedy," Flumenbaum said in a written statement. "Mark was an innocent victim of his father's monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo."

A lawyer for Mark's mother, Ruth Madoff, said, "She's heartbroken." The lawyer, Peter Chavkin, had no further comment.

Mark Madoff was found by his father-in-law, after his wife, Stephanie, became concerned when he sent an e-mail to her Friday night or early Saturday morning that someone should check on their 2-year-old son, law enforcement officials said. Madoff's wife, who is at Disney World in Florida with her 4-year-old daughter, sent her father to the home, where he found Madoff's body. The toddler was found unharmed, along with a dog.

Bernard Madoff, 72, swindled a long list of investors out of billions of dollars. He admitted that he ran his scheme for at least two decades, cheating thousands of individuals, charities, celebrities and institutional investors. Losses are estimated at around $20 billion, making it the biggest investment fraud in U.S. history.

He was arrested on Dec. 11, 2008, after confessing his crimes to his family.

The scandal put a harsh light on members of the family. The financier's brother, Peter, played a prominent role in the family's company. Mark and Andrew Madoff both worked on a trading desk at the firm, on a side of the business that wasn't directly involved in the Ponzi scheme.

In February, Mark Madoff's wife petitioned a court to change her last name and the last names of their two children, saying her family had gotten threats and was humiliated by the scandal.

A year ago, the court-appointed trustee trying to unravel Madoff's financial affairs sued several relatives, including Peter, Mark and Andrew, accusing them of failing to detect the fraud while living lavish lifestyles financed with the family's ill-gotten fortune.

The lawsuit accused Mark Madoff of using $66 million he received improperly to buy luxury homes in New York City, Nantucket and Connecticut.

A call to Bernard Madoff's attorney was not immediately returned Saturday. Calls to the FBI and U.S. Attorney's office were also not immediately returned. Previously, spokespeople for the brothers had repeatedly denied that they had any knowledge of their father's crimes.

Bernard Madoff is serving a 150-year prison sentence in North Carolina. Bureau of Prisons spokeswoman Traci Billingsley said Saturday she didn't have specific information on whether Bernie 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 and the bureau does allow furloughs for prisoners to attend memorial services.

A police officer stood guard in the lobby of Madoff's 12-story luxury loft apartment building in SoHo Saturday morning.

The building sits on a busy block abutting Broadway in an area crowded with clothing boutiques, cafes and art galleries. The sidewalks and cobblestone streets near the apartment were packed with Christmas shoppers Saturday, as dozens of reporters stood vigil.

Bystanders gawked as officials from the medical examiner's office removed the body early Saturday afternoon. The medical examiner will determine the cause of death.

[SingsInFrench 262]

Another victim of Bernie Madoff.

[nurktwin 2,143]

yikes, doesn't the Gov know that Bernie did NOT act alone, this scan had thousands of ppl involved to transfer funds. and as far as his son not knowing anything about it, then how did he just happen to get $66 million to buy whatever he wanted? chances are a disgruntled investor that lost all their money came up with a plan to break in, hang him and make it look like suicide!!

[Refugee 7]

How can you commit suicide with your child in the apartment sleeping? How incredibly selfish, but then again, look at who we are talking about.

[nurktwin 2,143]

xactly ref, that's why i brought up the murder scenerio.

[AndreaM 0]

At least he didn't harm the child. Some people hate their lives, and take their children or even their whole family with them when they end it all.

[AngelDream 16]

^ yeah, like the Smith woman did, for the life of me can't remember her 1st name that drowned her 2 baby boys in the back seat of the car in the car seats...I wanted to just strangled her!!!!

I'm just glad his 2 year old was asleep and didn't get harmed, but with this family, after reading the article I thought "well, what goes around, comes around"....I feel sorry for the kids left after this, even tho they are just 2 and 4 years old, they'll remember .

[Echosoftom 3]

I wonder if Bernie Madoff thinks all the heartache and misery his atrocities have caused so many people was worth it. I'm so glad the child was at least found unharmed. It could have been so much worse. It's sad that these poor children will have to live in the shadow of the fall out from all of these tragedies.