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A law enforcement official tells The Associated Press that a son of Bernard Madoff has been found dead in New York City of an apparent suicide.
The official says Mark Madoff was found hanged in his Manhattan apartment.
A family member notified police around 7:30 a.m. Saturday.
The official spoke to the AP on the condition of anonymity because he wasn't allowed to speak publicly about the case.
Originally posted by brill
reply to post by thecinic
But she's right. I get a kick out of imbeciles who equate money with success and happiness. More times than often you see a result such as this. The only good that can come from this event is that ol Bernie hopefully feels even worse while he's rotting away in a cell.
edit on 11-12-2010 by brill because: (no reason given)
While not accusing them of knowing participation in the scam, the lawsuit charged that they "were completely derelict" in carrying out the compliance and supervisory responsibilities required by their jobs at the firm. "As a result they either failed to detect or failed to stop the fraud, thereby enabling and facilitating the Ponzi scheme," Picard alleged. "Simply put, if the family members had been doing their jobs — honestly and faithfully — the Madoff Ponzi scheme might never have succeeded, or continued for so long."
How do I know Uday and Qusay, I mean Mark and Andrew knew? Well, it's easy...they were THE traders for the firm. Bernie has admitted that no trades were actually made. Don't you think the traders themselves would know whether a trade went through or not? Come on.
Like his uncle, Mark Madoff received millions of dollars from fictitious and backdated transactions in shares of Dell and Microsoft, the lawsuit charged. The Dell stock gains listed in one of his Madoff accounts came from stock purchases that purportedly occurred "more than 18 months before the account was opened," Picard alleged. Additionally, the scam behind the family business allegedly "paid for all aspects" of Mark Madoff's lavish lifestyle, from expensive homes in Manhattan, Nantucket and Greenwich, Conn., "to the mattress and box spring he slept on, the television he watched in his home gym, and the outdoor shower in his home," the lawsuit charged.
Originally posted by gandhi
reply to post by thecinic
Yeah, because money determines happiness and mental health......
Originally posted by pajoly
One down, several thousand oligarchial sociopaths to go.
Originally posted by whatukno
reply to post by Nicorette
I might be incorrect, but doesn't a ponzi scheme work by you taking money from rube A and paying off previous rube B with it? Basically you keep just a percentage of the actual money and use new investors to pay off old ones, which would mean that there is relatively little actual money left, most of it would have been paid out to former suckers.
But this may be just a New York style pig sticking.