Mark Madoff commits suicide; evidence had been mounting of his involvement
In a sad turn of events, Bernard Madoff’s son Mark was found dead Saturday morning of an apparent suicide. This is the fourth suicide resulting from the Madoff scandal since the Ponzi schemer’s arrest exactly two years ago today.
The background: On Dec. 11th, 2008, the Wall Street legend Bernard Madoff turned himself in to FBI agents claiming he had stolen $65 Billion in the largest financial fraud ever–and that he had done it alone.
Two years later, however, evidence mounted that his family–including his son Mark Madoff–had not only known about the scam but had participated actively in stealing the billions of dollars. Just yesterday, Madoff trustee Irving Picard filed suit against an Austrian banker Sonja Kohn who allegedly dealt with Mark Madoff directly in marketing the Ponzi schemer’s feeder funds all over Europe. (see a press release about the suit at http://www.madofftrustee.com or click on a PDF version here: nysb Trustee v Sonja kohn et al 10 dec 2010). Mark is named in paragraph 249 of the suit:
“On January 6, 2000, Grasso, on behalf of Kohn and Eurovaleur, sent a
facsimile on Eurovaleur letterhead to Mark Madoff at BLMIS enclosing Italian
newspaper articles regarding Kohn’s Milan-based online investment sales platform, FundsWorld. This correspondence evidences Kohn’s coordination with BLMIS in relation to the solicitation of investors for the Ponzi scheme. Id. at 63, ¶ 7.”
I’ll continue to update on my blog today about this grisly development.