Andrew H. Madoff, son of convicted financier, dies at 48 [View all]
Source: Washington Post
By Emily Langer September 3 at 11:39 AM
Andrew H. Madoff, who reported to authorities that his father and longtime Wall Street colleague, Bernard L. Madoff, had masterminded perhaps the largest Ponzi scheme in history, a multi-billion-dollar crime that Andrew described as a “father-son betrayal of biblical proportions,” died Sept. 3 at a hospital in New York City. He was 48.
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Mr. Madoff was the only surviving child of “Bernie” Madoff, a once-revered financier who is now serving a 150-year sentence in federal prison for felonies including securities fraud and money laundering, and the former Ruth Alpern.
Their elder son, Mark Madoff, hanged himself on Dec. 11, 2010, exactly two years after Bernard Madoff’s arrest. Mark and Andrew had turned their father in to officials after a tearful confession in which he revealed that his business was “all just one big lie.”
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As the U.S. economy crumbled in 2008, Bernard Madoff appeared to be under increasing stress. On Dec. 10, he asked his sons to accompany him to his Manhattan apartment, where he revealed that the business was a fraud and that he had no money.
Read more: http://www.washingtonpost.com/national/andrew-h-madoff-son-of-convicted-financier-dies-at-48/2014/09/03/49c10da4-0e81-11e4-b8e5-d0de80767fc2_story.html
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