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Mark Madoff Was Burdened By Fraud Investigation, Lawsuits: Part 1

Mark Madoff proclaimed his innocence to anyone who would listen, even in a final note to his lawyer that asked him to take care of his family. Bernie Madoff's eldest son committed suicide last Saturday on the second anniversary of his father's arrest for orchestrating a $20 billion Ponzi scheme. 

Bernie Madoff is now serving a 150-year sentence at a North Carolina prison after pleading guilty to charges including securities fraud and mail fraud. The arrest and conviction of Bernie Madoff ripped apart the family and devastated friends and trusted clients who had invested thousands or millions with the family's company.

Bernie's sons were among those most devastated. They turned their father in to authorities after he confessed the truth to them that their company was a sham. Since then, Mark Madoff had been fighting accusations that he knew or should have known that his father's company was not legitimate and that he committed tax fraud or knowingly accepted stolen money that was disguised as legitimate returns on investments.

A recent, excellent article in The Wall Street Journal looks into Madoff's role at his father's business and the investigation into his possible involvement with the Ponzi scheme. According to the Journal, Mark Madoff had not spoken to either of his parents for two years, or not since his father's arrest. He often asked friends how a father could do what he did to his sons. He also was particularly upset about bankruptcy trustee Irving Picard's recently filed lawsuits, which included the names of his children as defendants.

Source:

Madoff Won't Attend Son's Funeral (The Wall Street Journal)

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