The tragedy of Bernard Madoff is that he ruined thousands of lives, including that of his son.
As reported today, 46 year old Mark Madoff committed suicide on the second anniversary of his father's arrest for the $64 billion Ponzi scheme. Significantly, the son was under investigation for fraud and was being sued for making more $90 million out of his father's illegal transactions. Mark and his brother Andrew worked on a trading desk for the family firm, in a part of the business not thought to be directly involved in the Ponzi scheme. They and other family members have denied being aware of it.
The tragic side to this story is the way Bernard Madoff's legacy continues even after he was jailed for 150 years. Earlier this year, Mark Madoff's wife Stephanie applied for permission to change their name to Morgan for "safety reasons."
And Mark Madoff isn't the first suicide linked to the Ponzi schemer. A friend and associate of Bernard Madoff, Jeffry Picower, who was also being sued, was found dead in a swimming pool at his Florida home in October, although that case remains unresolved. Picower made billions off Madoff's scheme
Madoff has always insisted that he acted on his own. The evidence suggests otherwise. But the events unfolding now have turned this case into a real tragedy.
no comment untill now