NEW YORK (ANTARA News) – The son of investors disgraced Bernard Madoff Saturday hanging himself in his apartment in New York on the second anniversary of the arrest of his father to commit fraudulent practices of Wall Street ever.
Madoff, 46, was found by a relative last Saturday, a spokesman for New York City Police Department told AFP.
Neighbors in lower Manhattan luxury environment gathered to watch as the power to bring the body in black bags out to the van from his autopsy. Police also closed the road during the operation.
Madoff was found hanging from the neck of the dog rope installed on a ceiling in the apartment while her two years of sleeping in an adjoining room, the local news media reported.
“Mark Madoff take his own life today,” said family lawyer Martin Flumenbaum in a statement. “We are all very saddened by this shocking turn of events.”
The terrible twist in the saga Madoff came two years to the day after Bernard Madoff arrested for running a pyramid scheme that bilked tens of billions of dollars from gullible investors around the world during the decade-long career.
Madoff senior sentenced to 150 years in prison, and since then have only a few criminal prosecutions in the conspiracy.
Although no claims have been filed against crime Mark Madoff, he is being sued in a civil action by the U.S. Trustee seeks to recover money for victims.
Trustee, Irving Picard, alleged that Mark and immediate family members benefited from the flood of illegal profits senior Madoff promised, regardless of whether they knew about the fraud.
Flumenbaum, a family lawyer, said it was the excesses of the father who helped bring about “a terrible tragedy and not be” the death of Mark Madoff.
“Mark is a horrible crime victims who gave up his father’s guilt in the two years of relentless pressure from false accusations and insinuations,” he said.
Mark Madoff mother, Ruth, is “heartbroken,” said lawyer Peter Chavkin The Wall Street Journal.
U.S. media reports described Mark Madoff as his father had been devastated by the betrayal of trust. He and his brother Andrew has been working with their father in the office markasnya Manhattan, but said they did not know that their father had run a criminal scheme in parallel to a legitimate business.
Mark Madoff has changed e-mail to his wife, Stephanie, is in Florida with their children four years, and that after the exchange he told relatives he was concerned for him, The New York Post reported, citing sources that are not mentioned by name. This encourages the father in law to check the apartment on Saturday morning.
Bernard Madoff fraud, in which he posed as one of the smartest Wall Street money manager, is believed to have the greatest financial pyramid scheme in history.
He attracted billions of dollars from a Who’s Who of investors rich, then pay back the money it claimed stable profits derived from real, while the funds are actually looking for a new investor capital.
This scheme is so successful that for years it operated without attracting more than once suspected.
However, when the U.S. stock market and the economy nose-diving in 2008 began looking for investors to attract capital. Wang was at the time the notice is false and evaporate in funding lavish lifestyles Madoff family.
Picard has been struggling to claw back the funds disappeared, and even monitor Madoff auction items, ranging from stately homes to the socks, in order to cover the money.
Ruth Madoff, who had seen him wearing a large inventory jewelry auction block wall, has largely disappeared from public view. It was not clear if Bernard Madoff will be allowed to attend his funeral.
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